Questions: Plant assets are defined as: Multiple Choice Tangible assets used in a company's operations that have a useful life of more than one accounting period. Current assets. Assets that are physically consumed when used. Intangible assets used in the operations of a business that have a useful life of more than one accounting period Tangible assets used in the operation of business that have a useful life of less than one accounting period.

The answer is Tangible assets used in a company's operations that have a useful life of more than one accounting period.

This is the correct definition of plant assets. Plant assets, also known as fixed assets, are tangible assets that are used in the operations of a business and have a useful life extending beyond one accounting period. Examples include machinery, buildings, and equipment.

This is incorrect. Current assets are assets that are expected to be converted into cash or used up within one year or one operating cycle, whichever is longer. Examples include cash, accounts receivable, and inventory.

This is incorrect. While some plant assets may wear out or depreciate over time, they are not typically consumed in the same way as inventory or supplies. Plant assets are used over multiple periods.

This is incorrect. Intangible assets, such as patents and trademarks, are not considered plant assets because they are not tangible. Plant assets must be physical, tangible items.

This is incorrect. Plant assets are defined by their long-term use, meaning they have a useful life of more than one accounting period. Assets with a useful life of less than one accounting period would be considered current assets or supplies.