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. What type of product are these rigs examples of?
A) installations
B) accessory equipment
C) supplies
D) component parts

Question

Quizplus · Accepted Answer

Jack-up rigs are large, expensive, and durable pieces of equipment used in the exploration and production of petroleum. They are considered installations because they are significant capital investments that are typically installed and used for a long period in operations.

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