Which of the following statements is not true regarding long$-$term assets that do not fit clearly into the investments, property, plant, and equipment, or intangible assets categories?

Multiple Choice

They can be reported in the balance sheet in their own descriptive category or simply in a catchall $$Other$$ category.

Each of the assets in this category must be reported in its own descriptive category.

These assets are commonly made up of long$-$term operating leases and long$-$term prepaid expenses.

These assets are commonly made up of long$-$term operating leases and long$-$term deferred charges.