#32 of 20 questions Multiple Choices --Previous Questions-- Multiple Choice Questions The following are risks of ownership Except: OLessee maintained assets OLessee has right to use assets for most or all of it useful life. OLessee runs the risk of technological obsolescence. b) Lessee insures assets OLessee insures asset dy

#32 of 20 questions Multiple Choices --Previous Questions-- Multiple Choice Questions The following are risks of ownership Except: OLessee maintained assets OLessee has right to use assets for most or all of it useful life. OLessee runs the risk of technological obsolescence. b) Lessee insures assets OLessee insures asset dy

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Q 9.48: Prior to calculating the depreciation expense, what must a company estimate about the asset at the end of its useful life? Obsolescence Accumulated depreciation Depreciable cost AE Salvage value Qu D. Study th - Apply de plant asse O Mark for Review Confidence SUBMIT F5 F8 10 F6 AA F4 4. 8.
AASB 116 requires disclosure of the following by asset class: I II III IV The useful lives of assets Yes No Yes Yes Accumulated impairment losses No Yes Yes Yes Items pledged as security Yes Yes No Yes Additions during the year Yes Yes Yes No ΟΙ O IV. O III Oll
Identifiable intangible assets include all of the following, except * Computer software Copyright Leasehold improvement Patent An intangible asset is identifiable when * O It arises from contractual and other legal right. It is either separable or it arises from contractual and other legal right. It is separable It is neither separable nor it arises from contractual and other legal right. Which is a characteristic of an intangible asset? * Claim for a specific amount of cash Physical existence Long-lived O Held for sale After initial recognition, an intangible asset shall be measured using * Cost model or revaluation model Cost model Revaluation model Cost model or fair value model O O O O O O O
D Question 9 The following assets can be defined as 'qualifying assets' except for: inventories purchased ready for sale. O manufacturing plants. O power generation facilities O investment properties.
2
MCQ4 Which of the following is not a characteristic of an intangible asset? It may be impaired and written off. It may be amortized using the straight-line method. Its useful life may exceed its legal life for amortization. O It has no physical substance.
question 28
Please give right answers to both questions
Intangibles have either a limited useful life or an indefiniteuseful life. How should these two different types ofintangibles be amortized?
Dog
question 27 choose the correct answer from the choices
None