Long-term productive assets used in the normal course of business are typically classified as:

A) Current assets.

B) Investments.

C) Intangible assets.

D) Property, plant, and equipment.

Answer: D

Patents, copyrights, franchises, and trademarks are examples of:

A) Current assets.

B) Investments.

C) Intangible assets.

D) Property, plant, and equipment.

Answer: C

A current liability is defined as:

A) An amount borrowed less than one year ago.

B) An amount due to an employee.

C) An amount due within one year.

D) A small amount due.

Answer: C