Question: ( Identifying permanent and temporary asset investments ) Classify each of the following investments in assets as either permanent or temporary, and explain your choice:

(Identifying permanent and temporary asset investments) Classify each of the following investments in assets as either permanent or temporary, and explain your choice:
1. A seasonal increase in a card shops inventory of Valentine cards.
2. The acquisition of a new forklift truck that is expected to have a useful life of five years.
3. An increase in accounts receivable resulting from an expansion in the firms customer base.

 

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