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To be classified as a plant asset, an asset must: Select one or more: Have a useful service life of more than one year. Be tangible. Have a salvage...

To be classified as a plant asset, an asset must:


Select one or more:

a. Have a useful service life of more than one year.

b. Be tangible.

c. Have a salvage value at least 20% of the purchase price.

d. Be used in business operations rather than held for resale.

e. Cost over $100,000

Top Answer

a. Have a useful service... View the full answer

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Other Answers

Here's the explanation you needed for... View the full answer

The correct options are: a. Have a useful service life... View the full answer

Plant asset refers to the assets having useful life... View the full answer

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