We normally record a long-term asset at the a. Cost of the asset only.b. Cost of the asset plus all costs necessary to get the asset ready for use.c. Appraised value.d. Cost of the asset, but subsequently adjust it up or down to appraised value.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 13MC: Which of the following represents an event that is less routine when accounting for long-term...
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We normally record a long-term asset at the
a. Cost of the asset only.
b. Cost of the asset plus all costs necessary to get the asset ready for use.
c. Appraised value.
d. Cost of the asset, but subsequently adjust it up or down to appraised value.

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