True False Answers— Conceptual MULTIPLE CHOICE— Conceptual
21. Plant assets may properly include a. deposits on machinery not yet received. b. idle equipment awaiting sale. c. land held for possible use as a future plant site. d. none of these.
22. Which of the following is not a major characteristic of a plant asset?
a. Possesses physical substance b. Acquired for resale c. Acquired for use d. Yields services over a number of years
23. Which of these is not a major characteristic of a plant asset? a. Possesses physical substance b. Acquired for use in operations c. Yields services over a number of years d. All of these are major characteristics of a plant asset.