Business Finance Homework Help

Please respond to britney with 150 words

1. Plant assets are considered to be resources that have three characteristics. The three characteristics are physical substance, used in the operations of a business, and are not intended for sale to customers. These characteristics are also known as property, plant, and equipment; plant and equipment; and fixed assets.

2. Natural resources differ by consisting of standing timber and underground deposits of oil, gas, and minerals. Characteristics include physically extracted in operations such as cutting or mining and replaceable only by an act of nature.

3. Intangible assets are rights, privileges, and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance. The most common types of intangibles are patents, copyrights, Goodwill, Trademarks and Trade names, and Franchises.