Accounting: Long Term Investments and Tangible Assets Quiz

They are not due for payment within one year after the year-end date

Capital

Drawing decreases capital

<p>Sales for merchandising and manufacturing companies</p> Signup and view all the answers

<p>Income increases and expenses decrease resources</p> Signup and view all the answers

<p>Property, plant, and equipment</p> Signup and view all the answers

<p>To record income that has been earned but not yet received</p> Signup and view all the answers

<p>Buildings</p> Signup and view all the answers

<p>To diversify the business's assets</p> Signup and view all the answers

<p>Not expected to be converted into cash within one year</p> Signup and view all the answers