What term is described as expenditures that provide long-term value, like land?

The term that describes expenditures providing long-term value, such as land, is fixed capital. Fixed capital refers to long-term investments in physical assets that are essential for production or operation. These assets are not consumed or easily converted into cash within a single accounting period; instead, they serve the organization over many years and are critical for sustaining operations and contributing to revenue generation.

In the context of capital investments, fixed capital includes tangible assets like buildings, machinery, and land, all of which are necessary for the ongoing functionality of a business. Fixed assets are characterized by their durability and ongoing utility, distinguishing them from other forms of spending, such as operating expenses, which are short-term and pertain to day-to-day functioning, or immaterial assets, which are non-physical and do not provide the same level of long-term value associated with tangible items.