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the plant assets that have to be used for more one year ,to generate the revenue, it is meaning reflection of the fixed assets , like land ,building , machines ,
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Properly, plant and equipment (plant assets) are tangible assets with the following properties. Held by the entity for use in the production or supply of goods or services and expected to used during more than one period. Fixed assets or non current assets are expected to used during more than one period. So fixed assets and plant assets can be considered to the same.
I use the term fixed assets to mean the same as plant assets. In other words, I believe that both fixed assets and plant assets refer to the assets reported on the balance sheet as Property, Plant and Equipment.
No..Fixed are not same as plant asset
fixed asset is a main account, plan assets is under fixed assets like equipment, furniture & fixture, vehicles, like that's
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I believe that both fixed assets and plant assets refer to the assets reported on the balance sheet as Property, Plant and Equipment.
No but the opposite is true