What are temporarily restricted net assets?

Q: Why are assets impaired?

A: Assets are those tangible and intangible resources in the business which the business can own and…

Q: What is the Total noncurrent assets?

A: Required  What is the Total noncurrent assets

Q: WHAT IS TECHNICAL OBSOLECENSE OF ASSET

A: The term obsolete refers to the fact that a commodity is no longer in use. Obsolescence refers to…

Q: Define the term nonmonetary assets.

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

Q: Explain the conditions under which assets and liabilities are derecognized

A: The answer for the theory question on the conditions under which assets and liabilities are…

Q: What are those short-lived assets?

A: Short Lived Asset A short lived asset is an asset that's to be sold , converted to money, or…

Q: What is non current assets ?

A: Current assets means those assets which will be converted in to cash in near future generally one…

Q: What is meant by depreciable base? How is it determined?

A: Depreciable base: The word depreciable base is used to depict the value that is divided by the…

Q: What are the two types of claims against assets?

A: Asset is a resource from which the company expected to generate future economic cash flows which can…

Q: What are permanently restricted net assets?

A: The permanently restricted net assets are held by the non-profit organizations.

Q: In what way do current assets and fixed assets differ from each other?

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: WHAT IS FUNCTIONAL OBSOLECENSE OF ASSETS?

A: Functional obsolescence of assets is discussed hereunder : The term ' Obsolescence' refers to…

Q: Define restricted policy (current assets)

A: The assets which are liquidated and converted in cash within a time period of one year and less than…

Q: How do fixed asset systems differ from purchases systems?

A: Definition: Purchase system: The identification and procurement of the inventory needs for the…

Q: Which assets depreciate?

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

Q: Which are the Limitations on Property Rights?

A: Property rights are the rights given to the owner as per law to hold or own a property. A property…

Q: what is qualifying assets?

A: Manufacturing plants, power generation facilities and inventories requiring time to get into…

Q: Which assets are classified as current assets?

A: Definition:     Current assets: The assets which could be converted into cash within one year like…

Q: What are fictitious assets?

A: Fictitious assets: Asset formed by an accounting entry (and included under assets in the balance…

Q: Why does the so-called distressed property situation exist?

A: Distressed property refers to those which have value less than the market value. This situation…

Q: John Landscaping started 2018 with total assets of $23,000 and total liabilities of $13,000. At the…

A: The stockholders equity is the equity capital that is contributed by the equity stockholders as well…