36-Identify the economic resource that has the ability to give economic benefits. a. Liability b. Expense c. Asset d. Capital
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A: Assets: Anything of worth or a resource of value that may be turned into cash is referred to as an…
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A: This question is answered as per IAS 29 "Financial Reporting in Hyperinflationary Economies".
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A: The capital budgeting is a process whereby the company evaluates different projects and chooses the…
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A: Investment property is property (land or a building or part of a building or both) held (by the…
Q: 38-Which of the following statement describes financial assets? a. Intangible assets where typically…
A:
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A: Brand recognition is situation when the customers can easily identify the products of particular…
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A: Hi student Since there are multiple questions, we will answer only first question. Since there is…
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A: There are two type of interests which are calculated generally in the accounting. These are nominal…
Q: 6. A liability is recognized in the statement of comprehensive income when it is probable that an…
A: As per IASC framework, the liability is recognized in the financial statement when two conditions…
Q: Liabilities a. possess service potential. O b. are things of value used by the business in its…
A: Liabilities: A person or corporation may be said to have a liability if they owe anything to another…
Q: 22. Which of the following assumption provides support for measuring the property, plant, and…
A: The PPE includes the fixed assets as property, plant and equipment.
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A: Costs which are deducted before reaching Operating Income are Above the line costs.
Q: 69 Development expenditures Group of answer choices Are always capitalized as intangible asset Are…
A: solution introduction as per the relevant accounting standard related to intangible asset research…
Q: Multiple choice: 1. It is a present obligation that has resulted from past events and has the…
A: Hi student Since there are multiple questions, we will answer only first question.
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A: The question is multiple choice question. Required Choose the Correct Option.
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Q: 32- Identify the economic resource that has the ability to give economic benefits. a. Asset b.…
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Q: 1. How do we decide whether to capitalize (record as an asset) or expense a particular cost? 2.…
A: ANSWER Cost: The cost of the long-lived assets refers to all the expenditures made in order to…
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A: Solution: Liabilities are the entity’s present obligations arising from past events, the settlement…
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A: Correct answer is option 'D' i.e. cost principle. Explanation: Under US GAAP As per cost principle…
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A: Ans. Borrowing costs that are directly attributable to the acquisition or construction of a…
Q: Define the capital maintenance term. Explain the types of capital maintenance. Write an example on…
A: Following is the answer to the given question
Q: The entry to record transaction costs for financial assets measured at fair value through surplus or…
A: The correct answer for the above mentioned question is given in the following steps.
Q: 18- As per physical capital maintenance, the profit earned by the entity when a. Opening Net worth…
A: According to physical capital maintenance, the company should report or generate profit only if the…
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A: Accounts are generally classified into 5 categories: Assets account Liabilities account Capital…
Q: Question 3. Classify each of the following accounts as (a) asset, (b) liability, or (c) equity.…
A: Assets means resources that the business have. It may be tangible resources or intangible resources.…
Q: Which of the following elements represents an economic resource? C . Owners’ equity
A: Economic resources refer to effective use of resources in order to achieve maximum output with…
Q: 36 - Which of the following is the basic accounting equivalence? A) Resources = Assets + Liabilities…
A: An asset is a resource having an economic value that is owned or regulated by a person,…
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A: FVTPL is subsequently measured at fair value Any gain and loss in the fair value measurement to be…
Q: he cost principle requires that companies record tangible capital assets at: a.fair value. b.book…
A: A historical cost is also known as the original cost which means the cost at which the asset…
Q: 14-The amount for which an asset could be exchanged, a liability settled , or an equity instrument…
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Q: Identity the economic resource that has the ability to give economic benefits___________ a. Capital…
A: Asset is an economic resource that has the ability to give economic benefits... option D asset is…
Q: What is meant by the following terms? You should provide an example of each to support your answer.…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: 8. Income is: a. An amount for payment of services, interest, or profit from investment b. The…
A: Income is the excess of revenue over expenditures.
Q: 14-As per physical capital maintenance, the profit earned by the entity when
A: Profits can be earned only when the production is more ans when there is more revenue and sales
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- Identify the economic resource that has the ability to give economic benefits. a. Expense b. Liability c. Capital d. Asset32- Identify the economic resource that has the ability to give economic benefits. a. Asset b. Liability c. Capital d. ExpenseWhich concept is applied to net income and other comprehensive income?A. Borrowed CapitalB. Financial CapitalC. Physical CapitalD. Legal Capital
- Which of the following elements represents an economic resource? B . Liability.The company future economic benefit is as....... Select one: a. Revenue b. Expenses C. Assets d. LiabilitiesAssets are usually valued under which basis? A. replacement costB. historical costC. net realizable valueD. present value
- Capitalizing a cost involves increasing what type of account?a. Liabilityb. Expensec. Stockholders’ equityd. AssetWhich of the following will cause owner's capital to decrease?Select one:a. Capitalb. Profitc. Drawingsd. LiabilityThe common characteristic possessed by all assets is a. Great monetary value b. Tangible nature Oc. Future economic benefit Od. Long life