Which of the following items should be classified as long term operational assets a Inventory b Patent c Tract of timber d Land e Computer f Goodwill g Cash h Buildings i Production machinery j Accounts receivable k Prepaid rent l Franchise ...

Event LongTerm Operational Asset a No b Y ...

Which of the following items should be classified as long-term operational assets? a. Inventory b. Patent c.

Question:

Which of the following items should be classified as long-term operational assets?
a. Inventory
b. Patent
c. Tract of timber
d. Land
e. Computer
f.
g. Cash
h. Buildings
i. Production machinery
j.
k. Prepaid rent
l. Franchise

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...