Equipment would appear on the:
A)balance sheet with the long-term assets.
B)income statement with the revenues.
C)income statement with the operating expenses.
D)balance sheet with the current assets.

Question

Quizplus · Accepted Answer

Equipment is a long-term asset and therefore would appear on the balance sheet within the long-term assets section. It is not an expense that would be included on the income statement. It may be depreciated over time, and the depreciation expense would appear on the income statement as an operating expense, but the actual equipment would not. It is also not a current asset.

Equipment Would Appear on The