Final answer:
Plant assets, or property, plant, and equipment (PP&E), are long-term tangible assets used in a company's operations. In the given question, land held for expansion, building being used for operations, and equipment being used in operations are considered plant assets. Options B, C, and D are the correct answers.
Step-by-step explanation:
Plant assets, also known as property, plant, and equipment (PP&E), are long-term tangible assets that a company uses in its operations to generate income. These assets are expected to provide economic benefits and are used in the production or supply of goods and services, for rental to others, or for administrative purposes. They are not intended for sale in the ordinary course of business.
Let's examine the items listed in the question:
- Equipment with no value is not considered a plant asset since it cannot be expected to provide future economic benefits due to its lack of value.
- Land held for expansion qualifies as a plant asset because it is a tangible asset that will provide future benefits when utilized for the company's expansion.
- Building being used for operations is a core example of a plant asset as buildings are tangible assets used in the operations of a business.
- Equipment being used in operations is certainly a plant asset since it is used to generate revenue within the company as part of its operations.
In this case, the correct options that are identified as plant assets are land held for expansion, building being used for operations, and equipment being used in operations.