Classify each of the following costs associated with long-lived assets as one of the following:
-Repairs made to used office equipment
A)Buildings
B)Machinery and equipment
C)Land
D)Land improvements

Question

Quizplus · Accepted Answer

Repairs made to used office equipment are associated with machinery and equipment, which are long-lived assets used in the production of goods and services.

Classify Each of the Following Costs Associated with Long-Lived Assets