Dr.Wells purchased a refrigerator for use in storing medications at his office.The refrigerator will be classified as:
A) equipment.
B) consumer goods.
C) inventory.
D) a fixture.

Question

Quizplus · Accepted Answer

The refrigerator purchased by Dr. Wells for storing medications in his office is classified as equipment because it is used in the operation of his business, specifically for storing medications, which is essential for the services he provides. Equipment refers to tangible personal property used in a business.

DrWells Purchased a Refrigerator for Use in Storing Medications at His