a
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
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
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
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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Chapter 8 Solutions
FINANCIAL ACCT-CONNECT
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