All categories

3 years ago

Whats considered a fixed assest

Business

1 answer:

Igoryamba3 years ago

3 0

Answer:

see below

Explanation:

Fixed assets are valuable items that cannot be converted into cash quickly. They are assets not meant for sale or consumption up in the current financial year.

Fixed assets are tangible or physical assets used by businesses in the productions or provision of services. They provide long term financial benefits to a business. Fixed assets have a useful life of more than one year. Land, buildings, motor vehicles, plant, and equipment are examples of fixed assets.

You might be interested in

The book balance in the checking account of Kyri Enterprises as of November 30 is $2,964. The bank statement shows an ending bal

lianna [129]

Answer:

reconciliation of bank balance:

bank balance $2,525

+ deposits in transit 11/29 $125

+ deposits in transit 11/30 $200

- outstanding check N. 322 $17

- outstanding check N. 324 $105

- outstanding check N. 327 $54

adjusted bank balance $2,674

reconciliation of checking account:

checking account balance $2,964

+ error on Check N. 321 $20

- NSF check $185

- unrecorded ATM withdrawal $100

- bank fees $25

adjusted checking account $2,674

To correct the error on Check N. 321

Dr Cash 20

Cr Accounts payable 20

To record NSF check

Dr Accounts receivable 185

Cr Cash 185

To record ATM withdrawal

Dr Drawing - Susan Kyri 100

Cr Cash 100

To record the bank fees

Dr Bank charges 25

Cr Cash 25

4 0

3 years ago

In 2010, real GDP was $13.2 trillion and nominal GDP was $14.6 trillion. What was the GDP deflator for that year?a. 9.6% lower b

serg [7]

Answer:

d. 10.6% higher

Explanation:

Given that;

Real GDP = $13.2 trillion

Nominal GDP = $14.6 trillion

GDP deflator = (Nominal GDP/Real GDP)× 100)

Hence,

GDP deflator = (14.6 / 13.2 ) × 100

GDP deflator = 110.6%

Thus,

= 110.6 - 100

= 10.6% higher

5 0

2 years ago

Question 1

Alex73 [517]

Answer:

Command

Explanation:

In the command economic model, the government determines the level of economic productions in the country. It decides what will be produced, its quantity, and the cost price. A central authority or the government owns all the factors of production.

The command economy is also the planned economy. The government plans and produces all goods and services. The private sector is not present in the command economy.

4 0

3 years ago

To build a child's skills in self-regulation, you should make reasoning statements. Which of the following is not a good reasoni

Vlada [557]

The correct option is C. You must put your sweater on because I said so.
This option is not a good reasoning statement because there is no good reason why the kid should put on a sweater - because I said so is not a good reason. The child needs a sensible and informative reason as to why they should do something, so instead of saying 'because I said so,' it may be better to say 'because you'll catch a cold,' or something to that effect.

6 0

3 years ago

The _____ Act established strict accounting and reporting rules to make senior managers more accountable and to improve and main

MrMuchimi

Answer:

Sarbanes Oxley

Explanation:

The Sarbanes Oxley act was passed in 2002 by the US congress to ensure that senior managers are more accountable by establishing strict accounting and reporting rules.

The Sarbanes Oxley Act created and gave powers to the Public Company Accounting Oversight Board to overlook the activities of the accounting industry. The Act also bans company executives from accessing loans.

Cheers.

4 0

3 years ago