What is the characteristic of 'non-current assets'?

Non-current assets are defined as long-term assets that a company intends to use over a period exceeding one year. These assets are critical for the ongoing operation and longevity of the business, contributing to the generation of revenue over time. They might include property, machinery, equipment, intangible assets like patents, and long-term investments.

This answer highlights the fundamental purpose of non-current assets within a business structure, which is not merely for immediate cash flow or operational needs, but rather for sustaining business activities over a more extended period. Their classification on the balance sheet reflects a company's investment in assets that are expected to yield benefits beyond the current accounting period.