asset since: We have an excavator business and purchased ramps so the machine can be put to use. Would i be correct in classing the ramps as an expense as supplies and materials?
No, the ramps would be equipment, an asset, most likely a fixed asset since they have a significant cost and last more than a year.
Resolution for 'asset since issue: 'We have an excavator business and purchased ramps so the machine can be put to use. Would i be correct in classing the ramps as an expense as supplies and materials?' available: Yes.
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