Question

Is furniture a long-term asset?

Answer 1

These are tangible assets or long-term resources that incorporate structures, land, vehicles, machinery, equipment, and furniture. These are physical, substantial resources that are possible or expected to stay all through the life expectancy of the organization.

Also read:

• Difference Between Assets and Liabilities
• What Are Current Assets?
• What Is a Fixed Asset?
• Fixed Assets Vs Current Assets