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A plant asset can be defined by which of the following statements? (Check all that apply.) It is a tangible long-term asset. Its original cost

A plant asset can be defined by which of the following statements? (Check all that apply.) It is a tangible long-term asset. Its original cost (minus any salvage value) is expensed over its useful life. Its original cost is expensed in the period in which it was purchased. It is reported on the balance sheet. It has a life within the business greater than one period.

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