Practicing Success
If a company has tangible assets with a useful life of 24 months and intangible assets with a useful life of 6 months, how would they be classified? |
Both tangible and intangible assets would be current Both tangible and intangible assets would be non-current Tangible assets would be current, and intangible assets would be non-current Tangible assets would be non-current, and intangible assets would be current |
Both tangible and intangible assets would be non-current |
Both tangible and intangible assets are classified as non-current. It's worth noting that even if an asset's useful life is less than 12 months, it will still be categorized as non-current. |