In what category on a classified balance sheet is Store Equipment found?
A) Plant and Equipment
B) Current Liabilities
C) Current Assets
D) Long Term Liabilities

Question

Quizplus · Accepted Answer

Store Equipment is classified under Plant and Equipment on a balance sheet because it is considered a long-term asset, used in the operation of a business and not expected to be converted into cash within a year.

In What Category on a Classified Balance Sheet Is Store