Describe classifications of long term assets.

Q: Define current asset

A: Current Assets are those assets that are to be held for short term and can be converted into cash…

Q: Capital Expenditure and Depreciation

A: Carpet purchased is to be treated as a furniture under the heading of fixed assets.

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: Explain rate of return on total assets.

A: Accounting Ratio:   It refers to a number expressed in terms of another to establish relationship…

Q: What is the classification of long term assets? Explain them.

A: Long-term assets: Long – term assets are those assets that are generally held by a company for more…

Q: Define Asset turnover.

A: Ratio analysis  It is the financial analysis tool for measuring the profitability, liquidity,…

Q: Explain the terms:  Depreciation, Amortization, and Depletion.

A: Depreciation:  Depreciation is a method that reallocates the cost of tangible assets over its useful…

Q: What are the two common categories of long-lived assets? Describe each.

A: Long lived assets are those assets that a business retains for long periods of time for use in the…

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

A:

Q: Define Current assets

A: Introduction: Assets are the properties acquired and managed by business as a result of past events…

Q: Differentiate between permanent current assets and temporary current assets.

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

Q: Define the term net assets.

A: Net assets: The net assets are the difference between the total assets and the total liabilities of…

Q: Differentiate between permanent operating current assets andtemporary operating current assets.

A: Answer: Current assets are those assets that could be transformed into cash within a year, such as…

Q: Define Long term assets and Short term assets? What are the differences between the two?

A: Long-term assets:Long-term assets are non-current assets that can benefit for several years.…

Q: Define return on total assets.

A: Financial Ratios:   Financial ratios are the metrics used to evaluate the liquidity, capabilities,…

Q: What is the total loss on realization of assets?

A: Loss that is recognized when the assets are sold for a price is lower than the original purchase…

Q: Distinguish between measuring assets based on current cost and historical cost.

A:

Q: Return on assets

A: Return on assets is computed as net income upon total assets of the company.

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: what is the group or composite life of the assets?

A: 1. Composite rate = ( Total Depreciation per year / Total Cost ) x 100 2. Composite life = Total…

Q: Determine the Total Assets value

A: Assets show the company's balance and the valuable resource controlled by the company. Assets can be…

Q: Define the term depreciation expense.

A: Depreciation: Depreciation is a method of reducing the capitalized cost of long-lived operating…

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: Define the term accumulated depreciation.

A:

Q: Find Total Current Assets.

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

Q: Describe the cost of fixed assets.

A: Fixed Assets - Fixed Assets are assets that are non-current in nature. These assets are purchased…

Q: What are the various types of long term assets? Name them.

A: Definition: Long-term assets are the assets which are intended to be held for a longer period of…

Q: Explain the investment Adjustments for Other Assets and Liabilities.

A: Fictitious assets are described as the deferred expenses or losses incurred in a particular…

Q: Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant…

A: Current assets are assets held for less than 12 months  Current liabilities are obligations that…

Q: Classify each of the following costs associated with long-lived assets as one of the following

A: Since you have posted multiple questions, we will solve the first question for you. To get the…

Q: Define the term accumulated depreciation and amortization?

A: Accumulated Depreciation and Depreciation. Every asset’s value decreases over time the reason being…

Q: Analyze the rate ofreturn on assets

A: Accounting ratio:   It is a number expressed in terms of another to establish relationship among…

Q: how to Determine the total assets

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: Explain how long-lived assets are reported and analyzed.

A: Introduction:- long-lived assets means any asset which is expected to be used or hold more than one…

Q: What are the various types of short term assets? Name them.

A: Short-term assets: Short-term assets are current assets whose benefit can be benefited within a…

Q: Define Long-lived assets

A: Assets are something that contain some value or its has some future benefits. The assets can be, a.…