Which of the following would be classified as a plant asset?
A)land held for future use
B)machinery
C)trademark
D)inventory

Question

Quizplus · Accepted Answer

Plant assets are long-term tangible assets used in the production of goods or services. Machinery is an example of a plant asset as it is used in production activities. Land held for future use is not yet being used in production activities and is classified as a long-term investment. Trademarks are intangible assets, and inventory is a current asset.

Which of the Following Would Be Classified as a Plant