Question: QUESTION 1 Which statement is true concerning tangible fixed assets? Assets that have no physical properties. Assets with a life of less than one year

QUESTION 1 Which statement is true concerning tangible fixed assets? Assets that have no physical properties. Assets with a life of less than one year or one operating cycle and used in the production of revenue Assets with a life of more than one year or one operating cycle and used in the production of revenue Assets are reported at their fair market or replacement value on the Balance Sheet QUESTION 2 Which financial statement would you find Property, Plant and Equipment, Intangibles and/or Natural Resources? Balance Sheet Statement of Retained Earnings Income Statement Statement of Public Accounting

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