Plant assets are physical resources used in business operations that are not intended for sale. They include property, plant, and equipment. Plant assets are recorded at cost and expected to provide services for several years, though land does not decline. Cost includes purchase price, freight, installation, and legal/broker fees. Insurance and license fees are operating expenses rather than asset costs. The cost of a delivery truck was $23,820 including taxes, painting, and a multi-year insurance policy recorded as a prepaid asset.