Correct answer Which of the following is NOT classified as a non-currentasset?a) Landb) Buildingsc) Inventoryd) Equipment

Inventory is classified as a current asset because it is expected to be sold or used up within a…

Answered: Which of the following is NOT…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 2DQ

See similar textbooks

Similar questions

Which of the following is NOT
MCQ
If certain conditions are met, which of the following properties could be classified as section 1231 property? A. Stock. B. Inventory. C. Accounts Receivable. D. Computer. E. None of the above.
WHAT IS FUNCTIONAL OBSOLECENSE OF ASSETS?
Disclosures relating to PP&E assets are Select one: a. less extensive under ASPE. b. more extensive under ASPE. c. identical under IFRS and ASPE. d. less extensive under IFRS.
Define restricted policy (current assets)
Describe the differences in assets that are unrestricted, temporarily restricted, or permanently restricted and explain the method of reporting these categories.
Define the term nonmonetary assets.
What are the long-term assets which do not have any physical existence? A. Intangible Assets B. Tangible Assets C. Current Liabilities D. Current Assets
WHAT IS TECHNICAL OBSOLECENSE OF ASSET?
Which of the following statements is false regarding property, plant and equipment (PPE)? Group of answer choices A. PPE is reported as a non-current asset on the balance sheet B. PPE is not intended for resale C. PPE can also be referred to as "inventory" D. None of the other alternatives
Under IAS 16, which of the following is NOT included in the definition of property, plant, and equipment (PPE)? Select one: a. PPE can be tangible or intangible. b. PPE is held for use in the production of goods and services. c. PPE will be used over more than one accounting period. d. PPE is tangible.

SEE MORE QUESTIONS

Recommended textbooks for you

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

Which of the following is NOT classified as a non-current asset? a) Land b) Buildings c) Inventory d) Equipment