plant and equipment

plant and equipment definition - business

plant and equipment

The fixed assets that are used to produce the goods and services that a firm sells to its customers. On a corporate balance sheet, plant and equipment are valued at original cost. Plant and equipment become net plant and equipment when adjusted for accumulated depreciation. Also called net plant and equipment.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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