Property,plant and equipment are assets that:

Question

Quizplus · Accepted Answer

Property, plant, and equipment are tangible assets that have physical existence, such as land, building, machinery, and furniture. Therefore, option C, i.e. are physical in nature, is the correct answer. Option A is incorrect because property, plant, and equipment have a long useful life and are not expected to be used up in a single financial period. Option B is incorrect because these assets are not held for resale but are used to produce goods or services. Option D is incorrect because these assets have a useful life of more than one financial year.

Property,plant and Equipment Are Assets That