Which of the following are criteria for determining whether to record an asset as a fixed asset?

A) must be an investment and long-lived
B) must be long-lived and used by the company in its normal operations
C) must be short-lived and tangible
D) must be tangible and an investment

Fixed Asset

Long-term tangible assets held for business use and not expected to be converted to cash in the current or upcoming fiscal year.

Long-Lived

Pertaining to assets, it refers to items that are expected to provide economic benefits over a prolonged period, generally exceeding one year.

Normal Operations

The regular, day-to-day activities carried out by a business to generate revenue and profit.