Multiple Select Question

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What defines a long$-$term investment? $($Check all that apply.$)$

Long$-$term investments are long$-$term resources that usually lack physical form.

Long$-$term investments are investments in stocks and bonds when they are expected to be held for more than one year or the operating cycle.

Long$-$term investments are used to produce or sell products and services.

Notes receivable and stock and bond investments are assets that are expected to be held for more than one year.