A machine purchased by a business for use in producing income can be recorded in an asset account called:
A) drawings.
B) debtors.
C) plant and equipment.
D) buildings.

Question

Quizplus · Accepted Answer

Plant and equipment is the appropriate asset account for machinery purchased for business use. Drawings and debtors are not appropriate accounts for machinery, and buildings refers specifically to the purchase of a physical building.

A Machine Purchased by a Business for Use in Producing