Property, Plant, and Equipment

Assets that have a useful life of more than 1 year and are used in the continuing operations of the organization.

Property - Any assets, including cash, title to which is ordinarily transferable between persons.

Plant Assets - Tangible non-current assets that are used in the operation of the business.
Examples are:

1. Land
2. Building
3. Machinery 
4. Employee parking lot

Equipment - A fixed-assets units, usually movable, accessory or supplemental to such larger items as buildings and structures; Examples are:

1. Lighting fixture
2. Lockers
3. Communication devices
4. Air conditioners.

Machinery and fixtures - Are not generally classified as equipment, although they fall under the definition. Example are:

1. Delivery equipment
2. Office equipment
3. Factory equipment

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