Select all that apply

Which of the following statements is $($are$)$ accurate regarding equipment purchased within a business? $($Check all that apply.$)$

Multiple select question.

Equipment cost is initially recorded as an asset and the cost is allocated over time to expense.

Equipment purchases are reported on the balance sheet.

Equipment is an asset.

Equipment purchases are expensed, in their entirety, in the period in which they occur.

Equipment is reported on the left side of the accounting equation.