Question

What is the value of long-term assets?

Answer 1

The value or worth of an organisation’s resources is accumulated amortisation, depreciation, or deterioration. These are not current resources. Long-term resources are the resources an organization expects it will use for more than a year. Examples of long-term resources are land, equipment, machinery, patents, and licenses.

Also read:

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