What are the characteristics of Plant Assets?

Plant assets, also known as fixed assets or property, plant, and equipment (PP&E), are long-term tangible assets used in a company's operations to generate revenue. Key characteristics include their physical nature, durability, and the ability to provide economic benefits over multiple accounting periods. Additionally, plant assets are subject to depreciation, reflecting their gradual loss of value over time due to wear and tear or obsolescence. Examples include buildings, machinery, and vehicles.