Consider the following items:LandAccounts ReceivableNotes Payable (due in three years)Accounts PayableRetained EarningsPrepaid RentDeferred RevenueBuildingsNotes Payable (due in six months)EquipmentHow many of the items listed above are generally long-term assets?
A. Two.
B. Three.
C. Four.
D. Five.
Answer: B
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