Yes, Equipment is an example of asset. Equipments are considered an asset because it is an important resources with value owned by a business or entity to operate. Equipment normally falls under the category of non-current assets since it is a long-term asset that has a useful life more than 1 year. Example of equipment can be truck, office tools and equipment and office machines.ASSETS
In accounting, assets are any resources with value owned by the business, company, entity or person. Assets have two categories, these are:Current AssetsNon-current Assets1. Current Assets
-these are assets that can be readily convertible to cash in a normal operating cycle of a business.Some Examples of Current AssetsCash and cash equivalentsAccounts ExpensesMarketable Securities2. Non-current Assets
-these are long-term assets or long-term investments that have a longer useful life that is usually more than 1 year. Not easily convertible to cash.Some Examples of Non-Current AssetsLandProperty, Plant and EquipmentTrademarksLong-term InvestmentsGoodwill
All fixed assets and intangible assets fall under the category of non-current assets.
What is the opposite of assets
For related topics about accounting equation
In accounting, liabilities are the resources that a company owes to another company or people.Two types of liabilityCurrent liability - liabilities that must be paid within a year or within the operating cycle of the company.Non-current liability - liabilities that will be paid later than a year or operating cycle of a business.