Long-lived assets are tangible items, hence the above statement regarding them is false.
What are durable assets? Intangible assets are what?
Investments in a business that will be profitable for the business for a long time are known as long-term assets. In addition to intangible assets, which cannot be touched physically, such as long-term investment or a company's trademark, long-term assets can also comprise fixed assets like property, plant, and equipment.
The aforementioned statement about long-lived assets is untrue because they are tangible goods. Long-term asset information for an organization is crucial for accurate financial reporting, business valuations, and financial analysis.
Therefore, The company's overall fixed costs are largely made up of long-term assets, which will be beneficial in the long run.
Learn more about Long-lived assets from the given link.
https://brainly.com/question/14959818
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