Q 9.50: Which of the following processes best describes depreciation? A Cost allocation Asset valuation Asset devaluation Cost accumulation

Q: Which of the following is/are contra-asset account? O Unearned Revenue. O Deferred Revenue. All of…

A: The balance sheet is the statement that reports the financial health of a business. The company…

Q: An asset's book value or carrying value is its: Multiple Choice O accumulated depreciation. cost…

A: The book value or carrying value of the machine is the value that carries on the balance sheet of…

Q: what is Intangible Asset ? what is  Wasting Assets ?  what is  Asset Cost ? what is  Residual…

A: In the world of finance and accounting, there are key concepts that businesses use to manage their…

Q: A To adjust CAPEX for taxable income B To isolate changes due to buying or selling of CAPEX C To…

A: The net capital expenditures are the difference between capital investments and depreciation, and…

Q: re for impairment loss assets, what will happen/effect?

A: Impairment Recognition Business assets should be tested for impairment when a situation occurs that…

Q: How do we account for the total costs of assets? What items are included?

A: When accounting for the total cost of assets trade or any other discount are deducted from the…

Q: Residual value is: A. Also called residual value. B. Also called scrap value. C. An estimate of the…

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: What is the systematic periodic transfer of the cost of a fixed asset to an expense account during…

A: It is a measure of the wearing out, consumption or other loss of value of depreciable asset arising…

Q: Do I have to include depreciation when computing net present value?

A: Depreciation is said to be none cash expense so there is no out flow of cash when depreciation…

Q: Illustrate the features of the MAC RS depreciation method?

A: The modified accelerated cost recovery system (MACRS) is an arrangement of depreciation utilized in…

Q: The cost of fixed assets is distributed over the asset's estimated lifetime. This spreading of costs…

A: Fixed Asset: It is a long-term asset and is tangible in nature. Such assets are used by the firm to…

Q: What are the effects of depreciation on the profit and loss account and balance sheet?

A: INTRODUCTION: A depreciation plan or chart makes it easier for organizations to keep track of…

Q: Difference between depreciation, amortization and fluctuation

A: The difference is explained as follows:

Q: Which one of the following is not one of the factors in computing depreciation? Cost price…

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

Q: Intangible assets are initially recorded at a. expected future value. b. fair value. c. cost. d.…

A: Intangible assets are those which does not have physical substance. It includes copyright, goodwill,…

Q: What costs should be included when measuring the total cost to acquire a long-term asset?

A: Long-term assets: The assets which are used to generate revenue for the business operations for a…

Q: The cost of an asset that is subject to depreciation os called?

A: Assets: Assets are those resources that are owned by the business organization which has an economic…

Q: Why are the costs of plant/long term assets recovered through depreciation vs. expensed out during…

A: Depreciation is referred to a decrease in the value of the fixed assets. It is a permanent loss. The…

Q: 12.2 What are three depreciable costs that are included in an asset's basis?

A: Every fixed asset loses its value over the period of time. Depreciation is recorded in order to…