Trucks and hand tools fall under the category of operating supplies.

Question

Quizplus · Accepted Answer

Trucks are considered fixed assets or capital equipment due to their long-term use and value to the business, while hand tools can be categorized either as small tools, which might be treated as operating supplies if they are low-cost and frequently replaced, or as fixed assets if they are more durable and expensive. Operating supplies typically refer to consumable items used in the day-to-day operations of a business.

Trucks and Hand Tools Fall Under the Category of Operating