Below please find a definition of “Long-term asset”
Defined Term – Long-term asset: Any asset, be it a share or a stock or a bond that an investor intends on holding for a lengthy period of time is termed as a long-term asset. It is to be kept in mind that value of long-term assets are recorded at their price of purchase, they don’t necessarily reflect the current value of the asset. For example the value of a building is recorded at its original price but not at its current market value, which could be potentially much higher than the price of purchase.
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