Which of the following is a correct statement about the nature of equipment?
A. While equipment is an asset, its use is recorded as affects Common Stock.
B. While equipment is an asset, its use is recorded as an expense.
C. Equipment and its use both affect liabilities.
D. While equipment is an asset, its use is recorded as a liability.
Answer: B
You might also like to view...
A straight rebuy involves:
A) re-ordering raw materials from the same vendor B) buying materials from a new vendor C) seeking bids from a new vendor because of dissatisfaction with the current supplier D) purchasing a new building for an expansion project
A loyalty program is also commonly known as a(n) ________ program
A) fair value B) reward C) champion D) lifetime E) enrichment
The operations of a company outside its home or domestic market are known as ________ business.
Fill in the blank(s) with the appropriate word(s).
Cash flow from ____ activities includes purchases and sales of marketable securities, investments in securities, property, plant, and equipment, and intangibles
a. operating b. investing c. financing d. purchasing e. exchanging