Accounting for IGCSE & O level - Final Statements (Section 11 - No. 45)

What does the term "non-current assets" mean?

Assets that are available to use for less than one year.

Assets that are intended to be sold immediately.

Assets such as land, buildings, vehicles and other equipment that will be available for long-term use.

Current liabilities

Non-current assets are resources used over a long period.