Answer:
The correct answer is letter "D": must be long-lived and used by the company in its normal operations.
Explanation:
Fixed assets are tangible resources used by a corporation to produce profits. To qualify as a fixed asset, the item can not be consumed or sold in less than one year and be part of the daily operations of the business. Fixed assets are listed on the balance sheet of the company and are subject to depreciation.
Examples of fixed assets include <em>buildings, factories, leasehold improvements, computers, electronic hardware, furniture, automobiles, </em>and <em>construction equipment.</em>
A(n) (transection) model is an outsourcing fee model that charges a variable fee based on the volume of transactions or operations performed by the application.(transection
Answer:
1a. Recognized Gain $20,000
1b. Basis $625,000
Explanation:
1a. Calculation for Miller's recognized gain using this formula
Miller's recognized gain =Condemnation award-Costs of building a new office
Let plug in the formula
Miller's recognized gain=$850,000-$830,000
Miller's recognized gain=$20,000
Therefore Miller's recognized gain will be $20,000
1b.Miller's basis
Based on the information given we were told that Miller's office building had an adjusted basis of the amount of $625,000 which simply means that Miller's BASIS for the new office BUILDING will be the amount of $625,000
Therefore the Basis is $625,000
The correct answer to this open question is the following.
Although there are no options attached, we can say the following.
The form of ownership represented by SABC is a publicly owned or state-owned broadcasting corporation that is managed by the government of South Africa. Indeed, SABC stands for South Africa Broadcasting Corporation. It was created on August 1, 1936, as the public broadcasting system of the South African government. Today, it controls 19 AM and FM stations in the country and operates five television channels that foment the optimal educational and entertainment content for the people of South Africa.
Answer:
Cause-and-effect relationship - Cost of goods sold
With the Cause and effect relationship, costs are linked to the revenue that they were incurred for to create. Cost of goods would therefore be linked to revenue.
Specific time period - Monthly salary payments to an office employee
Costs are to be recognized in the same period of time they were incurred. The monthly salary is to be paid monthly because it is incurred monthly.
Without regard to related revenue in the period incurred - Advertising expenditures
The advertising costs will be incurred when spent and not when the benefits are accrued.
