Choose the correct answer: 1. Physical plant assets can include: a.Machinery deposits not received b.Unused equipment waiting to be sold c.Land that is kept for future use for company building d.None of the above 2.Which of the following is not a characteristic of a physical plant asset? a. It has physical substance. b. Acquired for resale.
Choose the correct answer:
1. Physical plant assets can include:
a.Machinery deposits not received
b.Unused equipment waiting to be sold
c.Land that is kept for future use for company building
d.None of the above
2.Which of the following is not a characteristic of a physical plant asset?
a. It has physical substance.
b. Acquired for resale.
c. Acquired for business use.
d. It will offer service for an indeterminate number of years.
3. Which of the following is a characteristic of a physical plant asset?
a. It has physical substance.
b. Acquired for business use.
c. It will offer service for an indeterminate number of years.
d. All of the above are characteristics of physical plant assets.
4. Which of the following is not considered cash for financial reporting purposes?
a. Petty cash and exchange fund
b. Money orders, certified checks and personal checks
c. Available currencies, dollars and funds
d. Future-dated checks
5. Which of the following is considered effective?
a. Certificates of Deposit
b.
c. Money Market Savings Certificates
d. Future-dated checks
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