1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SVEN [57.7K]
3 years ago
9

An asset's cost includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended u

se. True False
Business
1 answer:
Alex Ar [27]3 years ago
7 0

Answer:

TRUE

Explanation:

This is known as historical cost, a common term in generally accepted accounting principles (GAAP). It's the original cost recorded in the balance sheet when an asset acquisition is recorded. It takes into consideration all of the items that can be attributed to its purchase and putting the asset to use. These items include the purchase price and such factors as commissions, transportation, appraisals, warranties, installation, and testing. For example, if a company buy a computer system, the original cost can include delivery charges, sales taxes, and setup fees.

You might be interested in
Which statement is correct? a. Producers are "Kings" in a market economy because they determine what is produced. b. Freedom of
Gala2k [10]

Answer:

B) Freedom of choice and enterprise are essential elements of the market system.

Explanation:

A free market system is a system where private parties (suppliers and consumers) decide how resources will be allocated. Consumers are free to decide whether they like or not a product and whether they will purchase it or not. On the other hand, producers are free to decide whether to produce one product or a totally different one, and at what price they want to sell it. Te free market system is extremely efficient in getting goods to consumers that value them the most.

There are no kings in a free market system, and though it is very efficient in creating overall wealth, it is not efficient in distributing wealth and income.

7 0
3 years ago
How is bohr model better than the rutherford model?
AlexFokin [52]
The Bohr model gives a more detailed understanding of the movement of the electrons and where they are. Unlike the Rutherford model, where electrons are simply thought of moving around in their spaces.
6 0
4 years ago
on December 1, 2021, Lester Company issued at 103, eight hundred of its 9%, $1,000 bonds. Attached to each bond was one detachab
Luden [163]

Answer:

$489,250

Explanation:

Market value of bonds and stock warrants

= ((500*1000*0.95)+(500*50))

= 475000+25000

= $500,000

Issue price bonds = 500000*1.03

= 515000

Carry value of bonds = ((500*1000*0.95)/500000)*515000

= (475000/500000)*515000

= $489,250

7 0
3 years ago
What does the term “elastic” describe?
liq [111]
(the flexibility basically)

definition-able to resume its normal shape spontaneously after contraction, dilatation, or distortion.
4 0
4 years ago
The amounts reported for assets and liabilities in the total column for the combining balance sheet for nonmajor governmental fu
torisob [31]

Answer: True

Explanation:

Governmental funds refers to the assets, money, or property, of the government.

It should be noted that the non major governmental fund is also a form of fund as well and therefore, the amounts that are reported for assets and liabilities in the total column for the combining balance sheet for the nonmajor governmental funds will also have to be reported in the other governmental funds column of the governmental funds balance sheet.

Therefore, the correct option is True

8 0
3 years ago
Other questions:
  • On January 10, 2017, a man in Lebanon, Virginia, frustrated with the DMV bureaucracy, paid his DMV bill with 300,000 pennies tha
    12·1 answer
  • A producer of mobile aerial work platforms rewards employees for the number of basic skills they can perform rather than for the
    14·1 answer
  • ____ partners typically provide capital but do not actively participate in the management of the business.
    15·1 answer
  • An asset has an average return of 10.19 percent and a standard deviation of 22.41 percent. What is the most you should expect to
    9·1 answer
  • Importance of strategic planning
    10·2 answers
  • What should you do in the following scenario?
    9·1 answer
  • Sharp Corp. granted an employee an option to purchase 12,000 shares of Sharp's $5 par value common stock at $20 per share. The B
    10·1 answer
  • The Baldrige Award aims to: (I) publicize successful quality programs. (II) recognize quality achievements of U.S. companies. (I
    14·1 answer
  • Physical Units Work in process, beginning 0 Completed and transferred out 89000 Work in process, ending 6000 Materials are added
    6·1 answer
  • The Cash account of Rampart Corp. reported a balance of $3,530 August 31, 2016. Included were outstanding checks totaling $1,700
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!