Which of the following classification of long-term assets is incorrect? Select one: a....
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Accounting
Which of the following classification of longterm assets is incorrect?
Select one:
a Longlived assets that are held for sale to customers but not used in normal operations are classified as merchandise inventory.
b None of the available choices
c Land that is not used for daily operations but is held for resale or future expansion is classified on the balance sheet as a longterm investment. The land holds a building that is used in normal operations
d Tangible assets that last longer than one year and are used in normal operations are classified as part of property, plant and equipment.
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