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

Question

Quizplus · Accepted Answer

The refrigerator is being used as equipment to store medications, making it a capital asset for Dr. Wells' office. It is not considered a consumer good as it is not being purchased for personal use, nor is it a fixture or inventory.

DrWells Purchased a Refrigerator to Use for Storing Medications at His