What is equipment (2024)

Equipment is a tangible long-term asset that benefits a business over several years of use. Computers, trucks and manufacturing machinery are all examples of equipment. They are tangible because they have a physical form—unlike intangible assets (such as patents, trademarks or copyrights) that do not.

More about equipment

While the full cost of equipment is added to the balance sheet at the time of purchase, the expense is amortized (spread across several years) rather than deducted all at once. This amortization expense appears on the income statement.

What is equipment (2024)

FAQs

What is the answer of equipment? ›

Answer: Equipment most commonly refers to a set of tools or other objects commonly used to achieve a particular objective. Different jobs require different kinds of equipment.

What example of equipment? ›

Examples of professional equipment
  • personal computers.
  • telefax equipment.
  • typewriters.
  • cameras of all kinds (film and electronic cameras)
  • sound or image transmitting, recording or reproducing apparatus (tape and video recorders and video reproducers, microphones, mixing consoles, loudspeakers)

What is an equipment 4 points? ›

Equipment refers to the necessary items for a particular purpose. It is a set of tools or devices needed for a specific activity or task. A. Hand Tractor: A hand tractor, also known as a walking tractor or power tiller, is a type of agricultural equipment.

What does equipment represent? ›

We use the uncountable noun equipment to mean 'the set of things that you need for a particular purpose', such as tools or clothing: We've bought camping equipment, including new sleeping bags and a little refrigerator.

What is it equipment? ›

IT Equipment means all types of computers, servers, printers, computer hardware, wired or mobile telephones, on-site process control and automation systems, telecommunication assets, and other equipment related to information technology.

What is equipment in your own words? ›

: the set of articles or physical resources serving to equip a person or thing: such as. (1) : the implements used in an operation or activity : apparatus.

What are considered as equipment? ›

Equipment is a tangible long-term asset that benefits a business over several years of use. Computers, trucks and manufacturing machinery are all examples of equipment. They are tangible because they have a physical form—unlike intangible assets (such as patents, trademarks or copyrights) that do not.

What's in an equipment list? ›

At a minimum, your equipment checklist should include the following information:
  • A description of the equipment.
  • The equipment's model number.
  • The equipment's serial number.
  • The equipment's location.
  • The name of the person responsible for the equipment.
Apr 2, 2024

What is the full meaning of equipment? ›

Equipment. We use the uncountable noun equipment to mean 'the set of things that you need for a particular purpose', such as tools or clothing: … (Definition of equipment from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)

What does my equipment mean? ›

equipment in American English

whatever a person, group, or thing is equipped with; the special things needed for some purpose; supplies, furnishings, apparatus, etc. 3. goods used in providing service, esp. in transportation, as the rolling stock of a railroad.

What are equipment tools? ›

EQUIPMENT - are things which are used to provide specific service or function. TOOLS - are implements used by hand when doing an activity or work. UTENSILS - implements specially for use in the kitchen.

What is equipment in the workplace? ›

Work equipment is defined as any machinery, appliance, apparatus, tool or installation for use at work. The scope of work equipment is therefore extremely wide.

What is the other meaning of equipment? ›

equipment. (noun) in the sense of apparatus. Definition. a set of tools or devices used for a particular purpose.

What is the meaning of equipment with example? ›

/ɪˈkwɪp·mənt/ the set of tools, clothing, etc., needed for a particular activity or purpose: computer/electrical/farm equipment.

What can you say about equipment? ›

Equipment consists of the things which are used for a particular purpose, for example a hobby or job. ... computers, electronic equipment and machine tools.

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