Which of the following are classified as plant assets?
A)Office equipment.
B)Patent.
C)Cash.
D)Office supplies.
E)Merchandise inventory.

Question

Quizplus · Accepted Answer

Plant assets are tangible long-term assets used in the operations of a business. Office equipment such as desks, chairs, and computers fall under this category. B, C, D, and E are not plant assets. Patents are intangible assets, cash is a current asset, office supplies are usually expensed immediately or within a short period of time, and merchandise inventory is a current asset held for sale rather than for use in operations.

Which of the Following Are Classified as Plant Assets