Other assets include all of the following except: O restricted cash. O timberlands. O property held for sale. O assets in special funds.
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- These include both tangible assets such as (b) and intangible assets such as (c). To pay for these assets, they sell (d) assets such as (e). The decision about ...List all the fixed assets and categories them in Tangible and Intangible Assets. Non-current Assets: Property, plant and equipment Right of use Assets Current Assets: Inventories Trade and other receivables Cash and cash equivalents Available for sale investmentsGains and Losses results from realization events such as: a. sales, purchases, exchanges, or other disposition of property. b. sales, exchanges, or other disposition of property. c. Disposition , sales and donations. d. all of the above.
- Which of the following are controls that can be applied to capital assets? i - Examine and count capital assets on a regular basis ii - Place capital assets in a secure area iii - Tag assets with bar codes iv - Track individual assets in accounting records Select one: a. iv only b. iii and iv only c. all of i, ii, iii and iv d. ii, iii, and iv onlyThe acquisition of capital assets by a special revenue fund would be shown as: O a. long term asset O b. short term asset (supplies) O c. expenditure O d. cannot have capital acquisitions in governmental funds Oe. expenseThe money spent on long term assets is called Select one: O a. Revenue expenditures O b. Capital expenditure O c None of above O d. Cost
- For the following list of assets, identify each as being classified as tangible (T) or intangible (I). Cash - Accounts receivable - Patent - Land - Copyright - Oil reserves - Investments - Vehicle - Goodwill - Trademark - Inventory - Franchise -Property acquired through donation is recorded at a. It's book value b. It's fair market value c. It's cost d. ZeroInvestment property includes all of the following, EXCEPT:A. For sale in the ordinary course of businessB. Land held for capital appreciationC. For use in production of goods and services and for amdinistrative purposesD. Land held for currently undetermined use
- LC5Q3.Which among the following is not a capital asset? Building Vehicle Cash LandMoney accumulated in excess of funds required to secure life's necessities, which may be used for investment purposes, isA) investment funds. B) surplus income. c) discretionary funds.O D) free income.Which trust fund has assets always equal to liabilities with never a fund balance. O a. Pension trust funds O b. debt service trust funds Oc. Investment trust funds O d. special revenue trust funds Oe. Private purpose trust funds Of. Agency trust funds O g. capital projects trust funds Oh. Internal service trust funds