ACC 304 All Assignments ACC 304 All Assignments | Page 136
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