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

Question

Quizplus · Accepted Answer

Office equipment is classified as a plant asset as it is a long-term tangible asset used in the operation of the business. Other options, such as merchandise inventory, patent, office supplies, and cash, are not plant assets.

Which of the Following Is Classified as a Plant Asset