Property,plant,and equipment are ________.
A) presented in order of the category name, with Land being presented last
B) also called fixed or plant assets
C) either tangible or intangible assets
D) easily converted to cash

Question

Quizplus · Accepted Answer

Property, plant, and equipment are also known as fixed or plant assets. They are long-term assets that are used in the operations of a business and are not easily converted to cash. The order of the category name varies by accounting standards, but Land is typically presented first. They are tangible assets, meaning they are physical items that can be seen and touched.

Property,plant,and Equipment Are ________