Match each term with the correct definition.
-equipment
A) statement of income
B) matching principle
C) planned downsizing
D) trade receivables
E) capital asset

Question

Quizplus · Accepted Answer

Capital assets are long-term assets that are used in the operations of a business and are not intended for sale to customers. Equipment is a type of capital asset, as it is typically used over a long period to help a business generate revenue.

Match Each Term with the Correct Definition