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Understanding Operating Assets Descriptions of operating assets are listed below. Required: Identify the category of...

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Accounting

Understanding Operating Assets
Descriptions of operating assets are listed below.
Required:
Identify the category of operating asset associated with each description as property, plant, and equipment; intangible assets; or natural resources.
a. Naturally occurring materials that have economic value
b. Tangible assets that can be seen and touched
c. Do not have physical substance
d. Depreciated over the accounting periods in which the asset is used and benefits are received
e. Generally result from legal and contractual rights
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