Which of the following is not a major characteristic of a property, plant, and equipment asset?
A)Possesses physical substance
B)Acquired for resale
C)Acquired for use
D)Yields services over a number of years

Question

Quizplus · Accepted Answer

Property, plant, and equipment assets are acquired for use, possess physical substance, and yield services over a number of years. They are not typically acquired for resale, as they are used to generate revenue for the company.

Which of the Following Is Not a Major Characteristic of a Property