Property, plant and equipment are used in operations and have useful lives that extend over more than one accounting period.

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Property, plant, and equipment (often abbreviated as PPE) are tangible assets that are used in the operations of a business and are expected to provide economic benefits for more than one accounting period. Examples include buildings, vehicles, machinery, and furniture. PPE is recorded on a company's balance sheet and is depreciated (or amortized) over its useful life to reflect its gradual loss of value.

Property, Plant and Equipment Are Used in Operations and Have