Question

What is the importance of long-term assets?

Answer 1

Long-term assets or resources make up an enormous level of the organisation’s generally speaking fixed costs, which will be worthwhile later. Information on an organisation’s long-term resources is significant as it assists with making precise financial reports, business valuations, and examination of the business’s funds.

Also read:

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