Delivery Equipment would be classified as what type of account?

Delivery Equipment is classified as an asset because it represents a physical resource that a business owns and uses in its operations. In accounting, assets are items of value that can provide future economic benefits, and delivery equipment fits this definition as it facilitates the transportation of goods, thereby contributing to the company's ability to generate revenue.

Since delivery equipment is a tangible asset, it is recorded on the balance sheet and depreciated over time, reflecting its wear and tear. This is important for accurate financial reporting and to match the equipment’s cost with the revenue it helps generate over its useful life.

The other classifications, such as liabilities, owner’s equity, and expenses, do not apply here. Liabilities represent obligations or debts owed to others, owner's equity refers to the residual interest in the assets of the entity after deducting liabilities, and expenses are costs incurred during operations that are not tied to the acquisition of long-term assets. Thus, delivery equipment, being an asset, is crucial for the operational capacity and financial health of the business.