Mr Moosa has took a laptop (Which costs OMR 350) for lease from Mr Fahad for 11 months period. As Mr Moosa is expecting new technological production machineries in the Market in coming 4 to 5 years, he does not wants to buy a new machinery. Therefore he planned to take a machinery (Worth of OMR 5000) from Mr Talal on lease for the period of 5Yeras. Which of the above assets can be capitalized? Choose the correct answer from the following given options. a. Laptop b. Machinery C. Both Laptop and Machinery d. None of the given options
Mr Moosa has took a laptop (Which costs OMR 350) for lease from Mr Fahad for 11 months period. As Mr Moosa is expecting new technological production machineries in the Market in coming 4 to 5 years, he does not wants to buy a new machinery. Therefore he planned to take a machinery (Worth of OMR 5000) from Mr Talal on lease for the period of 5Yeras. Which of the above assets can be capitalized? Choose the correct answer from the following given options. a. Laptop b. Machinery C. Both Laptop and Machinery d. None of the given options
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mr Moosa has took a laptop (Which costs OMR 350) for lease from Mr Fahad for 11 months period. As Mr Moosa is expecting new technological production machineries in the Market in coming 4 to 5 years, he does not wants to buy a new machinery. Therefore he planned to take a machinery (Worth of OMR 5000) from Mr Talal on lease for the period of 5Yeras. Which of the above assets can be capitalized? Choose the correct answer from the following given options. a. Laptop b. Machinery C. Both Laptop and Machinery d. None of the given options
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