property, plant and equipment

Definition:

tangible assets of an accounting entity that (a) are held by the entity for use in the production or supply of goods and services, for hire to others, or for administrative purposes; (b) have been acquired or constructed with the intention of being used on a continuing basis; and (c) are not intended for sale in the course of the entity’s ordinary activities. Items held for the maintenance or repair of property, plant and equipment may themselves be counted as property, plant and equipment. Items leased to the accounting entity may be counted as property, plant and equipment.



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