Equipment is an example of a:

Name: Equipment is an example of a:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Equipment typically falls under the category of long-term assets, as it is expected to provide economic benefits to the company for more than one year. Current assets are expected to be converted into cash within one year, while current liabilities are expected to be paid off within one year. Long-term liabilities are liabilities that are not expected to be paid off within one year.

Equipment Is an Example of A