Property, Plant and Equipment are defined as,
A)Tangible assets held for sale in the ordinary course of business
B)Tangible assets held to earn rental or for capital appreciation or both
C)Tangible assets used in the process of production or supply of goods or services or for rental to others
D)None of the above

Question

Quizplus · Accepted Answer

Property, Plant, and Equipment (PP&E) are tangible assets that are used in the production or supply of goods and services, for rental to others, or for administrative purposes and are expected to be used during more than one period. They are not intended for sale in the ordinary course of business, which eliminates option A. Option B describes investment property rather than PP&E.

Property, Plant and Equipment Are Defined As