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Question 182Asked in DSSSB TGT Computer Science, 25 Jun 2023, Shift 2 (12:30 PM)

What is a long-term asset in accounting?

  1. AIntangible assets
  2. BCurrent liabilities
  3. CFixed liabilities
  4. DFixed assets
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Correct answer: (D) Fixed assets

Explanation

Fixed assets (non-current assets such as land, buildings and machinery) are held for long-term use, more than one year, in the business rather than for resale.

From DSSSB TGT Computer Science PYQ, 25 Jun 2023, Shift 2 (12:30 PM)

This is question 182 of DSSSB TGT Computer Science PYQ, 25 Jun 2023, Shift 2 (12:30 PM). See all questions of this paper with answers, or attempt the paper as a timed online test to get your score and all-India rank.