ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 101

a. Possesses physical substance

b. Acquired for use in operations

c. Yields services over a number of years

d. All of these are major characteristics of a plant asset.

24. Cotton Hotel Corporation recently purchased Emporia
Hotel and the land on which it is located with the plan to tear