Differentiate between permanent current assets and temporary current assets.

Q: t Assets and Non-

A: The current assets are given as,

Q: Find Total Assets (Current assets + Fixed Assets)

A: SNo. Particulars Amount Debit (Rs) Amount Credit (Rs) 1 Heating & Lighting expenses     To…

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: Define Depreciation expense.

A: Managerial accounting: Managerial accounting is the process of identifying, measuring, analyzing,…

Q: Distinguish between liquid and illiquid assets, and list some assets that are liquidand some that…

A: Liquid asset: It is a resource or asset that can be effortlessly transferred over into cash in a…

Q: normal balance of asset, liability, and equilt

A: The balance sheet shows the financial position of the company that including the assets,…

Q: Give an example of ADRs for some assets?

A: American depositary receipts (ADRs): American negotiable securities that signify ownership of shares…

Q: Define Asset turnover.

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

Q: Difference between current assets and current liabilities.

A: Current assets are those assets which can be realized within short term period or less than one year…

Q: Explain the conditions under which assets and liabilities are derecognized

A: The answer for the theory question on the conditions under which assets and liabilities are…

Q: Assets created by payments that expire as they are used are called?

A: The assets are resources that are owned by the individual or organization. The assets are in…

Q: Define Current assets

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

Q: distinguish between current and non-current assets, and current and non-current liabilitie

A: Any asset which is convertible in terms of cash within a time duration of one year is a current…

Q: Describe classifications of long term assets.

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

Q: revaluation or restatement of assets and liabilitie:

A: Equity is calculated by deducting total liabilities from total assets. It can be more clearly…

Q: Give an example of Current Asset, Current liabilities, Non Current Asset, Non Current Liabilities

A: 1. Current Assets : These are the assets which are convertible into cash within a Year   Example: 1.…

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: Describe the relationship between expense recognition and long-term assets

A: Two kinds of expense recognition are related to long-term assets; These are: Capital & Revenue.

Q: What is permanent operating current assets?

A: Current assets: A current asset is a corporation's cash and its other assets that are anticipated to…

Q: Return on assets

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

Q: Define each of the following terms:c. Permanent operating current assets; temporary operating…

A: It is considered as items that appear on the balance sheet that are either cash or will be cash…

Q: Match the following assets with its type. Current Asset, Fixed Asset, Contra Asset Accounts…

A: Current assets are assets that can be converted into cash in short period of time. Fixed assets are…

Q: example of assets

A: Assets represents the resources of an entity that are used for generation of resources of the…

Q: Define asset impairments.

A: Property, Plant, and Equipment:   Property, Plant, and Equipment refers to the fixed assets, having…

Q: Define the term depreciation expense.

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

Q: What is operating current assets?

A: Operating current assets are those short-term assets used to support the operations of a business.…

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: Distinguish between ‘Receipts and Payments Account’ and ‘Income and Expenditure Account’ on the…

A: Table showing difference between" Receipts and Payment Accounts" and "Income and Expenditure…

Q: Explain return on assets (ROA)

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

Q: What document shows when fixed assets are fully depreciated?

A: Depreciation: Depreciation means decrease in the value of tangible asset. Depreciation is a…

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: Determine an asset's depreciable life?

A: A tangible asset is a substantial resource. Tangible resources incorporate fixed resources including…

Q: Analyze the rate ofreturn on assets

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

Q: A provision of % should be made on loss assets

A: A loss asset is an asset that remains as a non-performing asset(NPA) for more than 36 months.

Q: how would make the non-performing assets into a performing one.

A: The concept of non-performing assets (NPA) is widely used in the management of financial assets in…

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: Define temporary operating current assets

A: Temporary Operating Current assets are a type of current assets which fluctuate with time or season…

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: Describe the terms of Contingent Assets with examples.

A: Contingent Asset are the assets which have not yet been realized, but they may realize upon…

Q: Explain the Ordinary Assets

A: Ordinary Assets are normally recognised as those assets held for sale in the ordinary course of…

Q: Define Long-lived assets

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