The correct answer is "Land on which to build a new store".

Long-lived assets, also known as fixed assets or capital assets, are investments that a company expects to hold and use for more than one year. These assets include items like buildings, machinery, and land.

In this case, "Land on which to build a new store" is considered a long-lived asset because the company plans to use it for a long period of time.

On the other hand, "Retained Earnings" and "Cash" are not long-lived assets. They are part of a company's current assets or equity, not fixed assets.

"Land purchased for resale next month" is also not a long-lived asset because the company plans to sell it within a short period of time, not hold and use it.

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The correct answer is "Land on which to build a new store".

Long-lived assets, also known as fixed assets or capital assets, are investments that a company expects to hold and use for more than one year. These assets include items like buildings, machinery, and land.

In this case, "Land on which to build a new store" is considered a long-lived asset because the company plans to use it for a long period of time.

On the other hand, "Retained Earnings" and "Cash" are not long-lived assets. They are part of a company's current assets or equity, not fixed assets.

"Land purchased for resale next month" is also not a long-lived asset because the company plans to sell it within a short period of time, not hold and use it.

Knowee AI · Accepted Answer

The correct answer is "Land on which to build a new store".

Long-lived assets, also known as fixed assets or capital assets, are investments that a company expects to hold and use for more than one year. These assets include items like buildings, machinery, and land.

In this case, "Land on which to build a new store" is considered a long-lived asset because the company plans to use it for a long period of time.

On the other hand, "Retained Earnings" and "Cash" are not long-lived assets. They are part of a company's current assets or equity, not fixed assets.

"Land purchased for resale next month" is also not a long-lived asset because the company plans to sell it within a short period of time, not hold and use it.

Which of the following is a long-lived asset?Multiple choice question.Retained EarningsCashLand purchased for resale next monthLand on which to build a new store

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