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natita [175]
3 years ago
7

When determining whether to record an asset as a fixed asset, what two criteria must be met?

Business
1 answer:
Anna007 [38]3 years ago
5 0

Answer: To classify an asset as fixed it must be met: "Must be long lived and must use the asset in a productive manner."

Explanation: Fixed assets: those assets and durable rights, which have been obtained in order to be exploited by the company. These are property, materials, equipment, tools and utensils that are not going to be marketed, that is, they are not going to become liquid at least during the first year.

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Answer:

Every day we perform series of activities in which few are very important while other may not be. But to perform every activity, we need to design the things systematically. We prioritize our activities as per their importance and then we take the action to make it fruitful. As per their value and importance we may develop following types of plan in our daily life;

Strategic or operational plan: Strategic or Operational Plan means an arsenal plan which tells how we can achieve the ultimate goal of our given task by creating clear and defined steps. As an operational plan, if we have an important task in our hand then we have to create step by step action which is oriented towards achievement of overall objective. Eg: If Periodical exams are due for...

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3 years ago
John's boss yells at him. As John walks meekly out of the boss's office, Dana walks past him and says, "Hello!" John yells at Da
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3 years ago
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The given statement is "True".

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Non-Profit Organizations.
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