Classified balance sheets commonly include the following categories:
A. Current assets
B. Long-term investments
C. Plant assets
D. Intangible assets
E. Current liabilities
F. Long-term liabilities
G. Equity.
Match the typical classification of each item below with its correct balance sheet category (A through G).
-Equipment used in business operations
A)G
B)B
C)A
D)C
E)F
F)D
G)E

Question

Quizplus · Accepted Answer

Equipment used in business operations is classified as a Plant asset, which corresponds to option C in the list of balance sheet categories.

Classified Balance Sheets Commonly Include the Following Categories