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.

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Answer 1

Question

Chapter 8, Problem 20DQ

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.

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Students have asked these similar questions

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

Identify the main difference between (a) plant assets and current assets, (b) plant assets and inventory, and (c) plant assets and long-term investments.

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

Answer 2

Question

Chapter 8, Problem 20DQ

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.

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Answer 3

Question

Chapter 8, Problem 20DQ

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.

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Answer 4

Question

Chapter 8, Problem 20DQ

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.

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Answer 5

Chapter 8, Problem 20DQ

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 20DQ

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 20DQ

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

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Answer 13

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Answer 14

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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 - Identify events that might lead to disposal of a...Ch. 8 - Prob. 9DQ Ch. 8 - Prob. 10DQ

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

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