QUESTION 18 Which of the following is true of a non -current asset? a. Non -current assets are bought with the intention of resale b. Non -current assets are normally used in the business on a long term basis c. Non -current assets tend to change constantly in amount and composition d. Non -current assets do not belong to the company

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter5: Adjusting Entries And The Work Sheet
Section: Chapter Questions
Problem 5TF: LO1 The purpose of depreciation is to record the assets market value in the accounting records.
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QUESTION 18
Which of the following is true of a non -current asset?
a. Non -current assets are bought with the intention of resale
b. Non -current assets are normally used in the business on a long term basis
c. Non -current assets tend to change constantly in amount and composition
d. Non -current assets do not belong to the company
Transcribed Image Text:QUESTION 18 Which of the following is true of a non -current asset? a. Non -current assets are bought with the intention of resale b. Non -current assets are normally used in the business on a long term basis c. Non -current assets tend to change constantly in amount and composition d. Non -current assets do not belong to the company
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