_Accounting concept is in valuation of fixed assets

Q: A resource owned by the business with purpose of using it for generating future profit, is known as…

A: Assets: Anything of worth or a resource of value that may be turned into cash is referred to as an…

Q: Preparation of adjusting entry for depreciation is supported by which principle/concept/assumption?…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Assets are usually valued under which basis? A. replacement cost B. historical cost C. net…

A: In terms of accountancy, an asset can be defined as a business resource which can be utilized to…

Q: haat is the relationship between Income Measurement and Asset Valuation?

A: Profit or loss calculation is indeed a simplified method of calculating income. An accountant…

Q: for the asset turnover ratio, which of the following best describes net assets? A. Fixed Assets +…

A: Asset turnover ratio is a measure which says that how effectively business assets are generating…

Q: In accounting for the acquisition of assets, the assets acquired are to be recorded at the…

A: Fixed assets of the business are very important assets which includes Land, Plant & Machinery,…

Q: Discuss the rationale of using total assets as a basic in determining materiality.

A: The concept of materiality is fundamental to the entire audit process and is applied by auditor.  1.…

Q: Describe  accounting for depreciation of fixed assets?

A: The depreciation is the reduction in the value of fixed assets with the usage and passage of time.

Q: explain silent feartures of these three methods. Asset Based Valuation, Earning Based Valuation…

A: An asset-based valuation is a form of valuation in business that focuses on the value of a company's…

Q: Which of the following statements about the FASB conceptual framework, as compared to the IASB…

A: Accounting standards are the standards set by the authorized body of each country in various field…

Q: What is return on assets (roa ) ?? please comment own word.

A: Ratio analysis is based on the fact that a single accounting figure by itself may not communicate…

Q: Which does not belong to the group? A. Capital maintenance approach B. Transaction approach C.…

A: The question is multiple choice question. Which does not belong to the group.

Q: 7. How is the valuation of current assets affected if th OValuation is based on historical cost.…

A: Current assets are the assets that provide the financial benefit over a year. If the assets is held…

Q: The means by which individuals hold their claims on real assets in a well-developed economy are A)…

A: A financial asset is a liquid asset which, from either a legal right or ownership assertion,…

Q: Elaborate the term: “De-recognizing” financial assets

A: Financial asset is a form of liquid asset for the business. These assets gets its value from the…

Q: What does it mean to adopt a maturity matching approach to financing assets, including current…

A: Current assets financing policies are strategies which focus on finding the best method of financing…

Q: Which of the following statements best distinguishes the difference between real and financial…

A: Financial assets: Financial assets are those tangible assets which can be quickly converted into…

Q: Explain return on assets (ROA)

A: The formula to compute return on asset as follows:

Q: a) Distinguish between financial assets and real assets for each of the following characteristics.…

A: Differences between financial assets and real assets on the basis of certain characteristics are…

Q: Find the attached file.

A: Asset: It can be defined as any valuable resource that is controlled and owned by the business and…

Q: Intangible assets are often combined with_______________assets for measurement and recognition in…

A: Intangible assets means those assets which do not have any physical presence and that can only be…

Q: Are the amounts at which fixed assets are reported on the balance sheet, their approximate market…

A: Fixed assets include all those assets which are not purchased for resale purpose. Fixed assets are…

Q: ccording to IASB’s Conceptual framework for financial reporting which of the measurement bases above…

A: According to IASB'S Conceptual framework,  Measurement or reporting of the element in the financial…

Q: assets are usually valued under which basis

A: All business concerns need resources , which are called assets. These are initially provided by…

Q: Capitalizing a cost means to record the cost into a(n) a. contributed capital. O b. asset. Oc.…

A: Capitalization represents the cost of an asset recorded over a period of time. Whereas, when the…

Q: Valuing assets at the amount of cash or equivalents paid or the fair value of the consideration…

A: solution If the cash paid at the time of acquisition is used to measure an asset, then it is called…

Q: To carry the value of the asset at its cost or historical value to the statement of financial…

A: The basic assumptions, rules, or conditions specifying the constraints for the working of accounting…

Q: Why do expenditure accounts have debit balances if assets are valued resources and asset accounts…

A: The Answer

Q: Expenditures to acquire long-term assets are most likely classified as a. Personnel Services b.…

A: The question is based on the concept of Accounting Theory.

Q: Financial reporting purposes, long-lived, revenue-producing assets typically are classified in two…

A: Long lived assets:   Long lived assets are assets that can be held for a longer period of time and…

Q: lationship between Income Measurement and Asset Valuation

A: Profit or loss calculation is a simplified form of income measurement. Income is defined by an…

Q: Describe the accounting problems associated with self-constructed assets.

A: Self constructed assets are those assets which the business elects to construct under its…

Q: The financial capital concept requires that net assets shall be measured at current cost adjusted…

A: so, the correct answer is 3) Historical cost

Q: in horizontal analysis  explain the results of total current asset and non current assets and what…

A: Horizontal analysis is the analysis in which an analyst tries to find out and determine how much…

Q: Please explain Tangible and Intangible Assets. What are types of both? Also Intangible Assets are…

A: Step1: Definition of tangible asset and intangible assets. We have,Tangible assets are those assets…

Q: Assets are usually valued at?   a.Historical Cost b. Residual Value c. Net Realizable Value d.…

A: Assets are the resources that are owned by the organizations. Assets can be current or non-current.

Q: - return on assets Is:

A: Closing income tax Payable = Opening Income tax payable + Current year expenses - Income tax paid…

Q: The historical cost principle requires that when assets are acquired, they be recorded at appraisal…

A: The historical principle helps to determine the value of assets to be recorded in the books of…