Which of the Following Is Not Classified as Property, Plant

question 109

Multiple Choice

Which of the following is not classified as Property, Plant and Equipment?

• A) Computers
• B) Goodwill
• C) Machinery
• D) Office furniture

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Definitions:

Revenue In Advance

Income received by a company for goods or services that are to be provided in the future, also known as deferred revenue.

Liability Account

An account on the balance sheet representing amounts owed to creditors or other parties, typically categorized as current or long-term.

Adjusting Entry

A journal entry made in accounting records to correct or allocate revenues and expenses to the appropriate period.

Wages Expense

This is the total amount of wages a company pays to its employees, which is considered an expense on the income statement.