Which of the following assets should be a. land.

Q: What assets are normally included as estate properties?

A: Probate laws: After the death of a decedent, in order to seek the problems of how his property…

Q: Define assets and types of assets.

A: Assets: An asset is a resource controlled by the enterprise as a result of past events and from…

Q: What is the different between real and personal property? Include examples

A: Immovable property is land. It defines property and everything related to it, including buildings,…

Q: What are the criteria of an assets held for sale?

A: Step 1   If any of the assets is held for sale then, it ceases to depreciation and amortization and…

Q: Distinguish between the cost of land and the cost of land improvements with example.

A: Land improvements means any type of alteration to the land to make it more usable. Land improvements…

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

A:

Q: Which two models may an entity opt for when accounting for investment property?

A: Investment property is a type of properly held by personnel for the intention of earning returns…

Q: Explain relaxed policy (current assets)

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

Q: what is the definition of Intangible Assets and Goodwill and what are some of the types of…

A: The assets can be classified as fixed assets, current assets and intangible assets.

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: Define Donated Assets.

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

Q: what should be reported as total assets

A: In a Merger, The purchasing entity acquires all the assets and liabilities of the dispersing…

Q: give the definition, recognition, measurement and derecognition of investment property

A: Speculation property are going to be property (tructure or part of a structure each) control (by the…

Q: Describe an asset held for sale and state three conditions that must apply?

A: Asset held for sale::: It is  a current asset or disposal group to be classified as held for sale if…

Q: Why is there a need to properly classify a property whether it is an investment or a property, plant…

A: Before making application treatment on property needs to be classification  It will makes proper…

Q: What are the various current assets? Name them.

A: Current assets are assets which are expected to be realised or converted to cash within one year…

Q: Define a financial asset

A: A contractual financial instrument is classified into financial assets and liabilities. They are an…

Q: Audit team use test data method to gain certain assurances with respect to:     Input data…

A: The auditing team so the Audit test data. It simply refers to the test that is used to check the…

Q: What are some examples of tangible and intangible assets?

A: Introduction:- Assets are mainly categories into two types based on the existence. these are as…

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: What are the important properties of real estate as an asset class? How are they similar/different…

A: The real estate investment class is a type of investment class which is focusing upon investing in…

Q: Identify the amounts included in the measurement of the right-of-use asset.

A: Following are the amounts included in the right-of-use asset: 1) Lease liability at its initial…

Q: How do land improvements differ from land?

A: Land improvement:   Improvements are made on a plot of land in order to make it more usable. These…

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: Which of the following term relates to Copyrights, Patents and Trademarks? O a. Investments O b.…

A: Intangible assets are those assets which do not have any physical existence and it's very difficult…

Q: Briefly discuss the rules related to distributions of noncash property.

A: The seven rules related to distributions of non cash property are as follows: 1. The distribution…

Q: Explain Land Acquisition and Development Costs?

A: Land acquisition: It is the process by which the government acquires private property for a public…

Q: Briefly explain the term of ‘biological asset’ and discuss when a biological asset is recognised in…

A: Biological Assets under MFRS 141:  Living assets, such as trees, animals, and cannabis, are referred…

Q: Which one of the following is a current asset?

A: Current assets are all the assets of a company that are expected to be sold or used as a result of…

Q: describe the nature of the assets that compose the following categories: (a) current asset, (b)…

A: In Chart of Accounts we prepare for Current Asset and Non Current Asset. Current Asset consist Cash,…

Q: Describe the Asset Management Analysis?

A: Asset management (turn over) ratios compare an organization's assets with its turnover. Asset…

Q: What does intangible assets includes in its items? Explain them in detail.

A:

Q: Differentiate between tangible and intangible assets?

A: Tangible assets are those assets which appear in the physical form and it is measurable. Assets like…

Q: What is asset specificity Identify three different types of asset specificity.

A: An asset is something that has monetary value and potential future value. A piece of machinery,…