Which form is used to record information about each plant asset in a business?

The plant asset record is specifically designed to track detailed information about each plant asset owned by a business. This record typically includes essential data such as the asset's acquisition cost, date of purchase, useful life, depreciation method, and current book value. By maintaining a plant asset record, companies can effectively manage their fixed assets, ensure accurate financial reporting, and facilitate financial analysis regarding asset utilization and depreciation.

In contrast, the asset ledger is more general and may encompass a wider range of assets beyond just plant assets. The property inventory focuses on physical items and stock, while the capital asset statement is often used to summarize financial information for reporting purposes rather than providing detailed records on individual assets. Therefore, the plant asset record is the most appropriate choice for comprehensive tracking of plant assets.