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Select all that applyProperty, plant, and equipment includes Blank______.Multiple select question.buildingslandcomputerstimber

Question

Select all that apply

Property, plant, and equipment includes Blank______.
Multiple select question.

  • buildings
  • land
  • computers
  • timber
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Solution

Breakdown of the Problem

  1. Identify the Elements of Property, Plant, and Equipment (PP&E):
    • Understand what typically qualifies as property, plant, and equipment under accounting standards.

Relevant Concepts

  1. Definitions:
    • Property, Plant, and Equipment (PP&E): Long-term assets vital to a company's operations, not easily converted into cash.
    • Common examples include land, buildings, machinery, vehicles, and equipment.

Analysis and Detail

  1. Evaluate Each Option:
    • Buildings: Yes, classified as PP&E.
    • Land: Yes, classified as PP&E.
    • Computers: Yes, classified as PP&E.
    • Timber: Typically considered a part of natural resources and may not directly fit into PP&E unless it is linked to a specific asset like machinery.

Verify and Summarize

  1. Summarize Findings:
    • The applicable selections are buildings, land, and computers, as they represent long-term physical assets essential for business operations.

Final Answer

  • Correct Selections: Buildings, Land, Computers. Timber is generally not included in PP&E.

This problem has been solved

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