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Click to watch the Tell Me More Learning Objective 1 video and then answer the questions below. 1. All of the following are considered fixed

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Click to watch the Tell Me More Learning Objective 1 video and then answer the questions below. 1. All of the following are considered fixed assets EXCEPT a. building. b. truck. c. land. d. accounts receivable. 2. If a purchased item is long-lived but not used in normal operations, the asset is dassified and recorded as a(n) a. fixed asset. b. Investment C. expense. d. contra sset

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