Determine the total net free assets.

Q: Define Depreciation expense.

A: Managerial accounting: Managerial accounting is the process of identifying, measuring, analyzing,…

Q: What is the classification of long term assets? Explain them.

A: Long-term assets: Long – term assets are those assets that are generally held by a company for more…

Q: Define current assets and list the typical asset categories included in this classification.

A:

Q: lassification costs

A: A long-term physical piece of property or equipment that a company owns and utilises in its…

Q: Explain relaxed policy (current assets)

A: Relaxed Policy is just something contrary to a restricted approach.

Q: Describe classifications of long term assets.

A: Long-term assets: Long – term assets are those assets that are generally held by a company for more…

Q: Discuss the rationale of using total assets as a basic in determining materiality.

A: The concept of materiality is fundamental to the entire audit process and is applied by auditor.  1.…

Q: Explain the difference between asset allocation funds and lifecycle funds

A: Asset allocation Funds make investments in different asset classes based on the efficient frontier…

Q: A cost that is recorded as an asset is ________. Group of answer choices an operating expenditure…

A: The objective of the question is to identify the type of expenditure that is recorded as an asset in…

Q: Define Intangible Assets.

A: Definition:   Assets: These are the resources owned and controlled by business and used to produce…

Q: Define Donated Assets.

A: Donated assets are the assets donated to governmental or non profit entity without any consideration…

Q: Explain how to determine the cost of an asset.

A:

Q: Distinguish between measuring assets based on current cost and historical cost.

A:

Q: Explain the accounting for gain and loss ­contingencies.

A: Contingencies:   Contingency is a situation where the outcome becomes uncertain and is resolved in…

Q: Define each of the following terms:d. Depreciation; amortization; EBITDA

A: The formula to compute EBITDA as follows:

Q: Explain estimated fixed assets

A: Introduction:- Assets are resources (property) presented in the balance sheet because for it an…

Q: Which assets depreciate?

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: Discuss the nature of acquiring fixed assets?

A: Fixed assets are one of the major investments of a company and this covers the huge part of the…

Q: Describe the cost of fixed assets.

A: Fixed Assets - Fixed Assets are assets that are non-current in nature. These assets are purchased…

Q: Define cost of land.

A: Land improvements: They are the improvements that are made to a plot of land to make it more usable.…

Q: the difference between a current asset and a non-current asset? Provide examples of each.

A: Current asset and non current assets both are shown under the asset of the company balance sheet

Q: Distinguish between current assets and non-current assets, giving TWO examples of each type of…

A: Assets are the resources owned by an entity for running the daily operations of the business. These…

Q: Borrowing cost can be capitalized as cost of the assets when

A: Borrowing costs are costs related to amount borrowed or loans taken. This is the interest expense…

Q: Define how to record capital expenditure.

A: Capital expenditure: It refers to the amount spent on acquiring, maintaining, and improving the…

Q: how to Determine the total assets

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…