What is the difference between a current asset and a fixed asset?

Q: Which of the following elements represents a residual claim? A . Asset.

A: residual claim :

Q: What costs should be capitalized for a self constructed asset?

A:

Q: What are the characteristics of a liquid asset? Give some examples.

A: A liquid asset is a type of asset that can be quickly converted into cash.

Q: What is the formula for the NET FIXED ASSET if it is not given in the financial statement?

A: The net value of a company's fixed assets is measured using net fixed assets. In a nutshell, net…

Q: Is long term investment is classified as non-current assets?

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

Q: WHAT IS LEGAL LIFE OF THE ASSET?

A: SOLUTION- LEGAL LIFE OR USEFUL LIFE OF ASSET- AN ASSET LEGAL LIFE IS THE PERIOD OF TIME (OR TOTAL…

Q: normal balance of asset, liability, and equilt

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

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: The fair value of net assets is:

A: Given information is: Fair values: Cash = OMR 80,000 Receivables (Net) = OMR 90,000 Liabilities =…

Q: WHAT IS TECHNICAL OBSOLECENSE OF ASSET

A: The term obsolete refers to the fact that a commodity is no longer in use. Obsolescence refers to…

Q: How do you calculate book value as it relates to fixed assets?

A: Book Value is the cost of carrying an asset on a company's balance sheet.

Q: Which asset never depreciates in value?

A: Depreciation expense: Depreciation expense is the reduction in a particular asset due to its use or…

Q: why we need to know the difference between fixed and current assets?

A: Solution:- Fixed assets :- The term fixed asset refers to a long-term tangible piece of property or…

Q: What are the objectives of a fixed asset system?

A: Fixed Assets:   The asset used by company for more than one year is known as fixed asset. Fixed…

Q: What are the economic benefits of leasing vs ownership of assets?

A: MEANING:- Leasing of Assets - The leasing of assets refers when the owner gives the right to use…

Q: What is liquid asset?

A: A liquid asset can be described as the asset which can be sold into the market easily and can be…

Q: e amortized cost for a financial asset

A: Amortized cost is the amount at which financial assets are reported on Balance Sheet.

Q: hat situational circumstances can the Asset-based valuation be

A: Valuation is the process of determining the fair market value of a company's assets or operations.…

Q: the assets' risk is the asset returns a

A: Step 1   Covariance is a statistical measure of how two assets move concerning each other. It…

Q: How do fixed asset systems differ from purchases systems?

A: Definition: Purchase system: The identification and procurement of the inventory needs for the…

Q: What are the requirements of depreciating an asset?

A: Depreciation is a non-cash expense which is charged against the use of the fixed assets of the…

Q: When using IFRS, an asset's recoverable value is

A: International financial reporting standards (IFRS) are a set of accounting rules and guidelines that…

Q: The book value of an asset is defined as ______

A: The Answer

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: The difference between book value of the asset with the proceeds received from its sale, will result…

A: The book value of an asset is the value of the asset calculated by deducting the accumulated…

Q: Determine an asset's depreciable life?

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

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: 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 goals of asset & liability management (ALM)?

A: Assets are the resources owned or control by an entity to produce economic value in the coming…

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: 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: Under normal circumstances, will the carrying value of a long-term asset be equal to its market…

A: Assets are recorded at historical figures.

Q: What is a current asset?

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

Q: How is the fixed asset turnover ratio computed? Explainits meaning.

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: WHAT IS ECONOMIC LIFE OF ASSET?

A: Asset refers to the useful resource of a business entity that is being owned by it that would help…

Q: What is the objective in identifying the costs of an asset?

A: Asset:   It represents the tangible and intangible resources owned by the business for a particular…

Q: How can we determine the unit profit of operating an asset?

A: Operating income: Operating income measures the organization’s profitability (includes all incomes…

Q: What do you mean when you say the depreciable life of an asset is defined?

A: The question explains about the depreciable life of an asset is defined