Question
You have just started in the accounting department of XYZ Limited and have been asked to prepare the long-term assets section of the balance sheet.
You have just started in the accounting department of XYZ Limited and have been asked to prepare the long-term assets section of the balance sheet. The trial balance of XYZ Limited has the following accounts:
Accounts receivable
Investment in Associates
Investment in Subsidiaries
Property, plant & equipment
Which of these accounts is NOT a long-term asset?
| A. | Accounts receivable | |
| B. | Investment in Associates | |
| C. | Investment in Subsidiaries | |
| D. | Property, plant & equipment |
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Auditing
Authors: Thomas D. Hubbard, J. R. Johnson, Steve Johnson, Joel D. Hubbard
6th Edition
0873932609, 9780873932608
