Office Equipment is classified in the statement of financial position as

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Office equipment is a type of property, plant, and equipment (PPE), which includes tangible assets that are held for use in the production or supply of goods or services, rental to others, or administrative purposes. PPE is a long-term asset that is not intended for sale in the ordinary course of business, and is therefore not classified as a current asset. Intangible assets are non-physical assets with no fixed value, such as patents, trademarks, and goodwill. Long-term investments are securities or financial instruments that are held for an extended period of time, such as stocks, bonds, or real estate, and are not used in the operations of the business.

Office Equipment Is Classified in the Statement of Financial Position