What type of assets include land and buildings not currently used in operations?

The correct answer is that land and buildings not currently used in operations fall under long-term investments. This classification is appropriate because long-term investments are assets that are not intended for immediate use in business operations but are held for an extended period and are expected to provide future economic benefits.

These properties typically appreciate over time and are part of a company’s overall asset management strategy as they are expected to generate value, either through future sales or by appreciating in value.

On the other hand, intangible assets refer to non-physical assets like patents, trademarks, and goodwill, which do not include physical properties like land and buildings. Current liabilities are obligations due within one year, and do not pertain to long-term asset classifications. Short-term assets generally include cash and other resources expected to be converted into cash within a year, such as inventory or receivables, which again do not fit the description of land and buildings held for investment purposes.