Plant and machinery are considered assets because they are tangible resources owned by a business that are used in the production of goods or services. These assets typically have a useful life extending beyond one year and contribute to the company's operations and revenue generation. They are recorded on the balance sheet and can depreciate over time.
surely it is neither, it is merely just a reduction in marketable value and no money is paid or received with depreciation. it does not affect cash but is classed as an expense.
Machinery is called the plant asset which is utilized to make production of units of product to earn revenue.
Machinery is considered an asset because it represents a valuable resource that a business uses to generate revenue. It is classified as a fixed asset on the balance sheet, reflecting its long-term utility and contribution to the company's operations. While it may incur maintenance costs and depreciation over time, these do not change its status as an asset.
yes It is an Asset, not a Liability.
asset liability
surely it is neither, it is merely just a reduction in marketable value and no money is paid or received with depreciation. it does not affect cash but is classed as an expense.
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
Plant asset is the machinery asset which a business use to make units of products for selling purpose to generate revenue for business.
Machinery is called the plant asset which is utilized to make production of units of product to earn revenue.
Machinery is considered an asset because it represents a valuable resource that a business uses to generate revenue. It is classified as a fixed asset on the balance sheet, reflecting its long-term utility and contribution to the company's operations. While it may incur maintenance costs and depreciation over time, these do not change its status as an asset.
yes It is an Asset, not a Liability.
asset
asset liability
Asset
Asset
It is an asset
asset