Question - Companies will spend a significant amount of money on plant assets, including equipment, furniture, and fixtures.
What is the difference between a plant asset and an intangible asset, and why is it important for a company to account for non-plant assets?
Explain why plant assets must be depreciated and does the depreciation process result in the calculation of the true value of an asset?
What is the depreciation "equivalent" for non-plant assets? (300 word count).