Which of the following represents long-term assets?

Long-term assets are those that are not expected to be converted into cash or consumed within one year. They are typically used in the operations of a business over an extended period and contribute to revenue generation in the long run. Equipment is classified as a long-term asset because it is a tangible resource that a company uses to produce goods or services and has a useful life extending beyond one year. It is amortized over its useful life, reflecting its consumption over time.

In contrast, cash, accounts receivable, and inventory are classified as current assets. Cash is readily available for use in day-to-day operations. Accounts receivable represents amounts owed to the business by customers for goods or services delivered but not yet paid for, which is expected to be collected within a year. Inventory consists of goods available for sale, and it is also typically sold within a year. Thus, these categories do not meet the criteria for long-term assets, making equipment the correct representation in this context.