11Jun 2021
What Are Plant Assets? The Motley Fool
Cost includes all normal, reasonable, and necessary expenditures to obtain the asset and get it ready for use. Acquisition cost also includes the repair and reconditioning costs for used or damaged assets as longs as the item was not damaged after purchase. Unnecessary costs (such as traffic tickets or fines or repairs that occurred after purchase) that must be paid as a result of hauling machinery to a new plant are not part of the acquisition cost of the asset. Plant assets, also known as fixed assets, are any asset directly involved in revenue generation with a useful life...
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