Question

Which of the following is not considered a type of long-lived asset?

• A. Accounts receivable
• B. Land
• C. Plant and equipment
• D. Natural resources

Answer 1

The correct option is A

Accounts receivable

Answer (A): Accounts receivable

Explanation: Accounts receivable (AR) is the balance of cash yet to be paid to a firm for labour and products conveyed or utilised however not yet paid for by clients. Accounts receivables are recorded on the accounting report as a current asset or resource. It is any measure of cash owed by clients for buys made using a loan/ credit.