UTILITY FIXED ASSETS definition
UTILITY FIXED ASSETS means all physical property owned by the Corporation and any Consolidated Subsidiaries and used or useful to the Corporation in the business of furnishing or distributing, as a public utility, gas service, the cost of which is charged and properly chargeable to plant or plant addition account on the books of the Corporation or such Consolidated Subsidiary in accordance with sound accounting practices and generally accepted accounting principles. Utility Fixed Assets need not consist of a specific or complete accession, addition or improvement or complete new property, but may include construction work in progress or any work such as is carried in fixed property accounts in accordance with sound accounting practices and generally accepted accounting principles, whether capable of complete description and identification or not.
UTILITY FIXED ASSETS means all physical property owned by the Corporation and any Consolidated Subsidiaries and used or useful to the Corporation in the business of furnishing or distributing gas service, the cost of which is charged and properly chargeable to plant or plant addition account on the books of the Corporation or such Consolidated Subsidiary in accordance with sound accounting practices and generally accepted accounting principles. Utility Fixed Assets need not consist of a specific or complete accession, addition or improvement or complete new property, but may include construction work in progress or any work such as is carried in fixed property accounts in accordance with sound accounting practices and generally accepted accounting principles, whether capable of complete description and identification or not.