Final answer:
A plant asset is a long-term, tangible asset used to produce goods or supply services, representing physical capital for a firm. It is categorized as a physical item or equipment and is crucial for a firm's productivity and output over the long term.
Step-by-step explanation:
A plant asset can be defined as a tangible asset that is used in the production or supply of goods and services, and is a long-term asset not intended for sale. This aligns with the definition of physical capital in business terms, which includes the plant and equipment that firms use in their operations. Plant assets are an integral part of a firm's production capability and are expected to provide benefits over several years. Hence, investments in plant assets today can lead to higher productivity and output in the future. Moreover, contrary to statement 4 in the question, plant assets are not intangible assets like brand value or trademarks; they are physical, tangible assets.