WHAT IS FUNCTIONAL OBSOLECENSE OF ASSETS?

Q: e

A: The accumulated depreciation account is a counter asset account on a company's balance sheet, which…

Q: What is nonoperating current assets?

A: Non-operating current asset: It could be a type of current resources or assets that are not basic to…

Q: Analyze how different types intangible assets are accounted for.

A: An asset is intangible when it cannot be seen, which means the asset that does not have any physical…

Q: Explain how the accounting treatment differs between purchased and internally developed intangible…

A: Intangible assets: Intangible assets are the long-term assets having no physical existence. However,…

Q: at is the difference between depreciation and im

A: Depreciation: Depreciation is an accounting methodology of allocating the price of a tangible or…

Q: WHAT IS CONTRACTUAL LIFE OF ASSETS?

A: An asset is a resource of economic value which is own by an individual and a company and provides…

Q: What is non current assets ?

A: Current assets means those assets which will be converted in to cash in near future generally one…

Q: Define the term Accounting for Depreciation?

A: Depreciation:   It is the reduction in the value of an asset due to factors like normal usage or…

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: Assets That Are Intangible definition

A: Asset: Assets refer to the resources owned by the business, which are utilized in the course of the…

Q: How can the Gains and Losses on Depreciable Assets be determined?

A: For calculation of gains or losses on depreciable assets, written down value of the assets at the…

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: How do you find uncorrelated assets?

A: Uncorrelated or non- correlated assets: These are those assets that are not correlated with each…

Q: How do you identify an asset with reference to AASB?

A: Balance sheet: A balance sheet is a statement of assets, liability, and equity. It is prepared after…

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

A:

Q: How do you identify intangible assets such as usufruct in modern transactions? Justify with examples

A: In a usufruct, the property rights of usus and fructus are merged. Usus refers to the right to use…

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: Explain the accounting issues related to asset impairment.

A: Asset impairment: Asset impairment emerges when there is a sudden drop in the fair value of an asset…

Q: What functions should be separated to segregaterecord keeping from asset custody?

A: Assets: Assets are those items that provide value for money and future economic benefit for an…

Q: How is the Asset Turnover calculated?

A:

Q: Are Inventories depreciable property? Why?

A: Depreciable property means an asset which is eligible to book depreciation for accounting and tax…

Q: What is operating current assets?

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

Q: Which assets depreciate?

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: what is qualifying assets?

A: Manufacturing plants, power generation facilities and inventories requiring time to get into…

Q: Which assets are classified as current assets?

A: Definition:     Current assets: The assets which could be converted into cash within one year like…

Q: What is the difference between tangible and intangible assets?

A: Fixed Assets: Fixed assets are those assets which gives profit over a year of time. Whether it is…

Q: Identify the accounting issues related to asset impairment.

A: Asset impairment emerges when there is an abrupt drop in the fair value of an asset underneath its…

Q: How do we decide whether to capitalize (record as an asset) or expense a particular cost?

A: Expensing a cost implies that it is included on the income statement and is subtracted from revenue…

Q: how to calculate deprieation

A: When fixed asset is purchased, it is recorded in books of accounts at it original or acquisition /…

Q: Which one of the following is a current asset?

A: Current assets are all the assets of a company that are expected to be sold or used as a result of…

Q: What are the depreciation processes that apply to the most common types of depreciable assets in the…

A: Depreciation is an accounting word that refers to the process of spreading the cost of a tangible or…

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

A: Noncash assets are assets that would not be easily converted into cash by the company.

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: How do you identify intangible assets such as usufruct in modern transactions

A: Goodwill, brand awareness, and proprietary information like as patents, trademarks, and copyrights…

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: What is the cost of right of use of asset?

A: Given in the question: Sales Price 20,000,000 Fair Value 18,000,000 Carrying Amount…

Q: Explain Depreciable Property?

A: Accordance with the IRS (internal revenue service) rule, any asset which is eligible for the…

Q: t is Asset-Accumulation

A: While the asset accumulation method maintains the familiar balance sheet structure, the business…

Q: Explain the Ordinary Assets

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

Q: How does depreciation expense differ from other operatingexpenses?

A: Depreciation: It refers to a gradual decrease in the fixed asset’s value because of obsolescence,…

Q: Define the term the depreciable life of the asset?

A: Depreciation  is an accounting process through which allocation of an asset’s cost during its useful…

Q: Is intangible assets is classified as current assets?

A: Generally, the liquidity of the assets plays a significant role in determining whether they are…

Q: What is intangible assets, and what is goodwill? definition?

A: Assets are the resources that are owned by the entity for using them in future and to generate…