Business, 12.02.2020 00:00 BlackMilkTea

Martin Industries owns a parcel of land adjacent to its factory. In approximately 18 months, Martin intends to build a parking lot on this parcel. Martin prepares a classified balance sheet and has an operating cycle of less than one year. How would classification of this parcel be different if Martin had a two-year operating cycle?a. With a one-year cycle it is classified as an intangible asset, while with a two-year cycle it is classified as a current asset. b. With a one-year cycle it is classified as property, plant, and equipment, while with a two-year cycle it is classified as property, plant, and equipmentc. With a one-year cycle it is classified as a current asset, while with a two-year cycle it is classified as an intangible assetd. With the one-year cycle it is classified as a long-term investment, while with a two-year cycle it is classified as property, plant, and equipment

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Martin Industries owns a parcel of land adjacent to its factory. In approximately 18 months, Martin...