Question

In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification. If the item should not appear on the balance sheet, enter a Z in the blank.

A. Current assets

B. Long-term investments

C. Plant assets

D. Intangible assets

E. Current liabilities

F. Long-term liabilities

G. Equity

19. Office supplies

Short answer

The correct answer is C, Plant asset.

Step-by-step solution

Definition of Assets

The resources acquired by the organizations to support the production and operations of the organization are known as assets of the organization.

Reason of choice

Office supplies helps in keeping the office in a position that helps the employees in the production, so it is an asset of the organization and should be disclosed under plant asset section of the balance sheet.