Question:
What characteristics of a plant asset make it different from other assets? Explain the general rule for cost inclusion for plant assets.
Identify events that might lead to disposal of a plant asset. Does the balance in the accumulated depreciation account represent funds to replace the asset when it wears out? If not, what does it represent?
What are the characteristics of an intangible asset? If an intangible asset has a limited life how is its cost allocated?
Note: You may use the book and other sources to answer questions. You cannot use Wikipedia. Make sure you cite your sources. Need at least 5 complete sentences. Must reply to at least one other person.