Ryan, a successful entrepreneur, is planning to get into the petroleum business. He has bought two jack-up rigs running into millions of dollars to start the business. These rigs are examples of:
A) installations.
B) accessory equipment.
C) supplies.
D) component parts.

Question

Quizplus · Accepted Answer

Jack-up rigs are large structures used in the exploration and extraction of oil and gas from beneath the sea bed. They are considered installations because they are significant, long-term assets that require substantial investment and are integral to the operation of businesses in the petroleum industry.

Ryan, a Successful Entrepreneur, Is Planning to Get into the Petroleum