Respuesta :
Raven should disclose this note receivable in its financial statements for the noncurrent assets current year after receiving a 3-year note receivable from a client for goods sold on January 1.
Long-term investments made by a business that won't be recovered at full value within the accounting year are referred to as noncurrent assets. Since these assets are frequently quite illiquid, it is difficult to turn them into cash. Investments, intellectual property, land, and financial statements machinery are some examples of noncurrent assets. A company's balance sheet lists its noncurrent assets.
Current assets and noncurrent assets are the two types of assets that make up a company's balance sheet. Noncurrent assets, often known as financial statements long-term assets, are capitalized as opposed to being incurred. By doing this, the business spreads out the cost of the asset across the time it will be used, as opposed to attributing the entire cost to the accounting year in which the asset was bought. Assets can be depleted, amortized, or noncurrent assets depreciated depending on their kind.
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