Asked by Gurwinder Bhullar on Jul 07, 2024

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Plant assets can be disposed of by discarding,selling,or exchanging them.

Plant Assets

Tangible assets used in the operation and production areas of a manufacturing company that have a useful life longer than one year.

Disposed

This refers to the act of getting rid of something, often used in the context of assets that have been sold or removed from the books.

Discarding

The process of getting rid of something no longer useful or required, often in the context of inventory or asset management.

  • Master the approaches to accounting for the disposal of assets, which encompasses assessing gains or losses.
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Edzisani NematokaJul 13, 2024
Final Answer :
True
Explanation :
Plant assets can indeed be disposed of by discarding, selling, or exchanging them.