Property, plant and equipment are assets that:

A) are expected to be used up within twelve months from purchase date.
B) are physical in nature.
C) are held for resale within the current period.
D) have a remaining productive life of less than one year.

Productive Life

is the period during which an asset remains functional and can produce goods or services that are useful for the entity owning it.

Physical Nature

The tangible attributes or qualities of an asset, product, or substance, often influencing its valuation, use, and management.

Purchase Date

The specific date on which an asset is acquired or a financial transaction is completed.