Final answer:
Deferred charges is not an acceptable major asset classification; this term is outdated and replaced by other categorizations in current accounting practices.
Step-by-step explanation:
The item among the options provided that is NOT an acceptable major asset classification is d. deferred charges. In accounting, asset classifications are used to organize a company's assets on the balance sheet. These classifications typically include current assets, long-term investments, and property, plant, and equipment. Deferred charges is an outdated term that is used to refer to certain prepaid expenses that would be recognized as assets but would be amortized over time.
Long-term investments refer to investments in stocks, bonds, or other assets that are held for a long period of time. Property, plant, and equipment include land, buildings, machinery, and vehicles that are used in a business. However, current accounting standards do not recognize deferred charges as a major asset class. Instead, such costs are typically classified within other asset categories depending on their nature.