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Classifying PPE: Understanding Tangible Assets in Business
Chapter 11, Problem 1(choose chapter or problem)
Property, Plant, and Equipment is considered why type of asset?
A. current assets
B. contra assets
C. tangible assets
D. intangible assets
Questions & Answers
QUESTION:
Property, Plant, and Equipment is considered why type of asset?
A. current assets
B. contra assets
C. tangible assets
D. intangible assets
ANSWER:Step 1 of 3
Property, plant, and equipment: The property, plant, and equipment section is reported under the assets side of the balance sheet that contains building, land, and equipment because these items are held and used in daily business operations.
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Classifying PPE: Understanding Tangible Assets in Business
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Explore the classification of Property, Plant, and Equipment (PPE) in business accounting. Understand the difference between tangible, intangible, and current assets. Grasp the importance of PPE on a company's balance sheet.