question 9 of 10: a car lot in an auto shop would best be characterized as what type of asset? a) equipment…

question 9 of 10: a car lot in an auto shop would best be characterized as what type of asset? a) equipment b) inventory c) cash & equivalents d) accounts receivable

question 9 of 10: a car lot in an auto shop would best be characterized as what type of asset? a) equipment b) inventory c) cash & equivalents d) accounts receivable

Answer

Brief Explanations:

A car is a long - term asset used in business operations. Equipment is a category of fixed assets that includes tangible items like machinery, vehicles (such as a car), and tools used in the production or operation of a business. Inventory refers to goods held for sale. Cash & equivalents are highly liquid assets. Accounts receivable are amounts owed to a business by its customers. Since a car is used in business operations and is a tangible long - term asset, it fits the definition of equipment.

Answer:

A. Equipment