A piece of machinery was recently acquired for $50,000 cash.

Which of the following statements regarding the $50,000 is correct?

It is a cost, an expenditure and an expense

It is a cost, but not an expenditure nor an expense

It is not a cost, nor an expenditure nor an expense

It is a cost and an expenditure, but not an expense

It is an expenditure, but not a cost nor an expense