Plant assets are defined as:

Question

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Plant assets are tangible assets that have a useful life of more than one accounting period and are used in the operation of a business. Examples include buildings, machinery, and equipment. Current assets are assets that are expected to be converted into cash within one year, while intangible assets represent non-physical assets such as patents, trademarks, and goodwill. Assets held for sale are classified as "held for sale" and reported separately on the balance sheet.

Plant Assets Are Defined As