Answer:
Money and Farm Equipment are examples of Capital.
Capital is a Factor of production which is basically the current assets, equipment and money in hand....This depends on the type of capital being referred to....It could be Working, Physical, or Fixed Capital.....
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The correct answer to this is B) a designer handbag. This is not a commodity. A commodity is anything that is considered a raw material.
Answer:
The answer is below
Explanation:
a. Fee paid to factory representative for installation - DEBITED to Asset account
b. Freight - DEBITED to Asset account
c. Insurance while in transit - DEBITED to Asset account
d. New parts to replace those damaged in unloading - NOT DEBITED to Asset account
To understand which costs incurred in acquiring the new printing press should be debited to the asset account, it should be noted that "new parts to replace those damaged in unloading" does not lead to improvement in assets, hence, it should be considered as Expense instead of being devoted into the asset account.
