What are Plant Assets? Definition Meaning Example
These assets are classified as fixed assets if their cost exceeds the capitalization threshold of a business, and they are expected to be used for more than one reporting period. Any asset may be included in the plant assets classification, as long as it contributes to the generation of sales. The name plant assets comes from the industrial revolution era where factories and plants were one of the most common businesses. This category of assets is not limited to factory equipment, machinery, and buildings though.
Company
If you buy a piece of land for $1,000 and then decide to sell it...