A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this. Current assets are short-term assets of a company which can be converted in cash in less than one year. To identify: The difference between plant asset & current asset.

Question

Want to see the full answer?

Answer 1

Question

Chapter 8, Problem 21DQ

a

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Current assets are short-term assets of a company which can be converted in cash in less than one year.

To identify: The difference between plant asset & current asset.

b

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Inventory in company includes the stock held as raw material, work-in progress & finished goods for the purpose of further production and resale.

To identify: The difference between plant asset & inventory.

c

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Long-term investments are made by the company in assets & securities for getting a regular earning and capital appreciation.

To identify: The difference between plant asset &long-term investments.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Alternative terms for property, plant, and equipment include all of the following, except for a. Plant assets b. Fixed assets c. Long-term assets d. Operational assets

Which of the following should be disclosed in the Summary ofSignificant Accounting Policies?a. rent expense amount b. maturity dates of long-term debtc. methods of amortizing intangiblesd. composition of plant assets

describe the nature of the assets that compose the following categories: (a) current asset, (b) plant asset

Answer 2

Question

Chapter 8, Problem 21DQ

a

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Current assets are short-term assets of a company which can be converted in cash in less than one year.

To identify: The difference between plant asset & current asset.

b

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Inventory in company includes the stock held as raw material, work-in progress & finished goods for the purpose of further production and resale.

To identify: The difference between plant asset & inventory.

c

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Long-term investments are made by the company in assets & securities for getting a regular earning and capital appreciation.

To identify: The difference between plant asset &long-term investments.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 8, Problem 21DQ

a

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Current assets are short-term assets of a company which can be converted in cash in less than one year.

To identify: The difference between plant asset & current asset.

b

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Inventory in company includes the stock held as raw material, work-in progress & finished goods for the purpose of further production and resale.

To identify: The difference between plant asset & inventory.

c

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Long-term investments are made by the company in assets & securities for getting a regular earning and capital appreciation.

To identify: The difference between plant asset &long-term investments.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 8, Problem 21DQ

a

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Current assets are short-term assets of a company which can be converted in cash in less than one year.

To identify: The difference between plant asset & current asset.

b

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Inventory in company includes the stock held as raw material, work-in progress & finished goods for the purpose of further production and resale.

To identify: The difference between plant asset & inventory.

c

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Long-term investments are made by the company in assets & securities for getting a regular earning and capital appreciation.

To identify: The difference between plant asset &long-term investments.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 8, Problem 21DQ

a

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Current assets are short-term assets of a company which can be converted in cash in less than one year.

To identify: The difference between plant asset & current asset.

b

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Inventory in company includes the stock held as raw material, work-in progress & finished goods for the purpose of further production and resale.

To identify: The difference between plant asset & inventory.

c

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Long-term investments are made by the company in assets & securities for getting a regular earning and capital appreciation.

To identify: The difference between plant asset &long-term investments.

Answer 6

Chapter 8, Problem 21DQ

a

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Current assets are short-term assets of a company which can be converted in cash in less than one year.

To identify: The difference between plant asset & current asset.

Answer 7

Chapter 8, Problem 21DQ

a

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Current assets are short-term assets of a company which can be converted in cash in less than one year.

To identify: The difference between plant asset & current asset.

Answer 8

b

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Inventory in company includes the stock held as raw material, work-in progress & finished goods for the purpose of further production and resale.

To identify: The difference between plant asset & inventory.

Answer 9

b

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Inventory in company includes the stock held as raw material, work-in progress & finished goods for the purpose of further production and resale.

To identify: The difference between plant asset & inventory.

Answer 10

c

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Long-term investments are made by the company in assets & securities for getting a regular earning and capital appreciation.

To identify: The difference between plant asset &long-term investments.

Answer 11

c

Summary Introduction

Introduction: A plant asset is a long-term fixed asset of the business which helps in generating revenue for the company. It has a useful life of more than one year, and depreciation is charged on this.

Long-term investments are made by the company in assets & securities for getting a regular earning and capital appreciation.

To identify: The difference between plant asset &long-term investments.

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 15

Ch. 8 - Prob. 1DQ Ch. 8 - Prob. 2DQ Ch. 8 - Prob. 3DQ Ch. 8 - Prob. 4DQ Ch. 8 - Prob. 5DQ Ch. 8 - Prob. 6DQ Ch. 8 - Prob. 7DQ Ch. 8 - Prob. 8DQ Ch. 8 - Identify events that might lead to disposal of a...Ch. 8 - Prob. 10DQ

Solution Summary: The author explains the difference between a plant asset and current asset.

Videos

Want to see the full answer?

Chapter 8 Solutions