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28 Sep 2019
1- Assets that cannot be seen, touched , or held are called:
A. Intangible assets
B. Natural resources
C. Tangible assets
D. Plant assets
2- Which of the following would NOT be considered part of the costof machinery and equipment ?
A. In- transit insurance costs
B. Delivery charges
C. Installation costs
D. Repairs and maintenance after start â up
3. After an asset is fully depreciated, the asset :
A. Remains on the balance sheet at value of $50
B. Must be removed from the balance sheet
C. Remains on the balance sheet at cost
D. Remains on the balance sheet at (cost- accumulated depreciation)
4. If an asset generates revenue evenly over time, the depreciationmethod best suited for this asset would be the :
A. Expense method
B. straight âline method
C. Units âof âproduction method
D. double â declining balance method
5. The total cost allocated to each item in a basket purchase isbased upon:
A. Their individual market values
B. The original cost of items
C. Their individual selling price
D. Their relative market values
1- Assets that cannot be seen, touched , or held are called:
A. Intangible assets
B. Natural resources
C. Tangible assets
D. Plant assets
2- Which of the following would NOT be considered part of the costof machinery and equipment ?
A. In- transit insurance costs
B. Delivery charges
C. Installation costs
D. Repairs and maintenance after start â up
3. After an asset is fully depreciated, the asset :
A. Remains on the balance sheet at value of $50
B. Must be removed from the balance sheet
C. Remains on the balance sheet at cost
D. Remains on the balance sheet at (cost- accumulated depreciation)
4. If an asset generates revenue evenly over time, the depreciationmethod best suited for this asset would be the :
A. Expense method
B. straight âline method
C. Units âof âproduction method
D. double â declining balance method
5. The total cost allocated to each item in a basket purchase isbased upon:
A. Their individual market values
B. The original cost of items
C. Their individual selling price
D. Their relative market values
A. Intangible assets
B. Natural resources
C. Tangible assets
D. Plant assets
2- Which of the following would NOT be considered part of the costof machinery and equipment ?
A. In- transit insurance costs
B. Delivery charges
C. Installation costs
D. Repairs and maintenance after start â up
3. After an asset is fully depreciated, the asset :
A. Remains on the balance sheet at value of $50
B. Must be removed from the balance sheet
C. Remains on the balance sheet at cost
D. Remains on the balance sheet at (cost- accumulated depreciation)
4. If an asset generates revenue evenly over time, the depreciationmethod best suited for this asset would be the :
A. Expense method
B. straight âline method
C. Units âof âproduction method
D. double â declining balance method
5. The total cost allocated to each item in a basket purchase isbased upon:
A. Their individual market values
B. The original cost of items
C. Their individual selling price
D. Their relative market values
Hubert KochLv2
28 Sep 2019