Plant Assets Are Defined As

question 152

Multiple Choice

Plant assets are defined as:

• A)Tangible assets that have a useful life of more than one accounting period and are used in the operation of a business.
• B)Current assets.
• C)Held for sale.
• D)Intangible assets used in the operations of a business that have a useful life of more than one accounting period.
• E)Tangible assets used in the operation of business that have a useful life of less than one accounting period.

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Definitions:

Five-Figure Accuracy

Describes numerical values precise to five digits.

Repeating Decimal

A fraction represented in decimal form where a specific set of digits continues to repeat endlessly.

Percent Equivalent

A value expressing a number as a fraction of 100, used to describe the relative size of a part to a whole.

Repeating Decimal

A decimal fraction in which a figure or group of figures repeats indefinitely.