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To be classified as a plant asset, an asset must: Select one or more: a. Have a useful service life of more than one year.
To be classified as a plant asset, an asset must:
Select one or more:
a. Have a useful service life of more than one year.
b. Be tangible.
c. Have a salvage value at least 20% of the purchase price.
d. Be used in business operations rather than held for resale.
e. Cost over $100,000
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