Quiz

Which of the following does describe intangible assets? a. They are not lack physical existence. b. They are financial instruments. c. They provide short-term benefits. d. They are classified as long-term assets.

why service industry not involved tangible assets and retail industry involved tangible assets?

Which of the following does describe intangible assets? They are not lack physical existence. They are financial instruments. They provide short-term benefits. They are classified as long-term assets.

Which one of the following is an essential characteristic of an asset? A. The inflow of future economic benefits is controlled by the enterprise B. It must be exclusively owned and must be exchangeable C. The cost of the asset can be measured accurately D. It is a result of either a past or predictable transaction or activity

Please explain Tangible and Intangible Assets. What are types of both? Also Intangible Assets are not depreciated but amortized. Please explain the difference. What kind of intangible assets are amortized? Do Tangible and Intangible Assets show up on the Balance Sheet, if they , is do please list the order they appear. For example Current Assets appear first and in order of liquidity is that correct? Please Show in order how Assets are recorded as well as explain the difference between Tangible and Intangible and what amortization is. Thanks!

What are the advantages and disadvantages of real assets?

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What is the common characteristic of all the assets owned by a company? A. Intangible B. Long Life C. Future Economic Benefits D. None of the above

_______Accounting concept is in valuation of fixed assets? A. Historical cost concept B. Dual aspect concept C. Entity concept D. Realisation

True or False _______ 1. Financial assets at amortized cost shall be measured at fair value through profit or loss. _______ 2. Transaction costs include fees and commission paid to agent, levies by regulating authorities, transfer taxes and duties. _______ 3. As a rule, transaction costs that are directly attributable to the acquisition of a financial asset should be capitalized as cost of the financial asset. _______ 4. Financial assets held for trading are reported at cost. _______ 5. The stockholder theoretically realized income from dividend at the data of record. _______ 6. As investee is an entity over which the investor has significant  influence. _______ 7. Trading bond investment are reported at face amount. _______ 8. A gain or loss on sale of trading bond investment is the difference between sale price and fair value. _______ 9. The interest rate written on the face of the bond is known as nominal rate. _______ 10. Major spare part and standby equipment which are expected…

Which of the following features of an asset closely links its definition to the science of Economics? An asset is controlled by an entity An asset can provide future benefits to an entity An asset can command a price An asset is exclusively owned by an entity А. В. С. D.

Asset sales are common in: banking. services. manufacturing. None of these options are correct.

Understand and employ the various types of accounts available to meet the goals of monetary asset management.     (I am supposed to Explain this. and I need work cited. But it CAN'T be from a website...please.)

Explain why the value of an asset is its current market value and not what you paid for it? Why is it so important to have my assets properly valued (what need might arise)?  Explain why every individual needs some liquid assets.  What is the problem if the amount is too low?  What is the problem if the amount is too high?

What is more important for asset valuation? Cash flow or accounting profit? Please fully explain the reasons for your choice.

38. Which of the following account statements regarding assets is not true? a. An asset represents a probable future economic benefit b. Assets are obtained or controlled as a result of past or probable future transactions c. Assets reported on the balance sheet include both monetary and nonmonetary resources d. Assets include costs that have not yet been matched with revenues

Why do expenditure accounts have debit balances if assets are valued resources and asset accounts have debit balances?

What are the advantages and disadvantages of financing assets through loans

Question #1. What determines the value of an economic asset (as opposed to an asset that hasvalue for reason of sentiment)?

What is a capital asset?  Why do we care about the treatment of assets as either capital or ordinary?

Identify an example of a non-current asset. O a. Machinery O b. Bank overdraft O c. Inventory O d. Loan

1. What is the objective of a financial statement? 2. What are the components of a financial statement? 3. What is an SFP? 4. What are the two forms of SFP? 5. What is an asset? 6. What are the essential characteristics of an asset? 7. What is an operating cycle? 8. What is a current asset? 9. What is a noncurrent asset? 10. What is a liability? 11. What are the essential characteristics of a liability? 12. What is a current liability? 13. What is a noncurrent liability? 14. What are the elements comprising the equity?

Assets do not include: Multiple Choice O O investments. accounts receivable. property, plant, and equipment. contributed capital.

Describe the accounting problems associated with self-constructed assets.

Describe the Principle of Investing in Financial Assets?

In accounting, which statement accurately reflects the Historical Cost Accounting concept and its implications for financial reporting? a ) Historical Cost Accounting records assets at their original purchase price. b) Historical Cost Accounting adjusts asset values based on current market prices. c) Historical Cost Accounting emphasizes future projected values for assets. d) Historical Cost Accounting disregards the original purchase price of assets.