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- The difference between cost of the asset and residual value is known as a . Depletion b . Salvage value c . Total cost of the asset . d . Depreciable costWhich of the following expenditures cannot be included in R&D costs? a. indirect costsb. intangibles purchased from othersc. personnel costsd. contract services performed for othersIn Benefit/cost ratio analysis, if the salvage value is used to recover the first cost, it is being considered as: Select one: a. negative cost b. benefit c. disbenefit d. cost
- Replacement cost represents the current cost to replace the assets at the current level of service and functionality. A True B FalseTwo alternative methods of acconting for the cost of oil and gas properties have been widely used. The method that capitalizes all cost associated with all wells is the a. Successful-efforts method b. Full-cost method c. Variable-cost method d. Specific-cost methodWhich of the following items shall not be capitalized into the cost of property, plant, and equipment? Cost of excess materials resulting from a purchasing error. Cost of testing whether the asset works correctly. Initial delivery and handling costs. Cost of preparing the site for installation.
- Explain the differences between cost depletion, asset depreciation, and amortization. Explain the Modified Accelerated Cost Recovery System (MACRS).Question no 3 What is avoidable and unavoidable cost? In terms of decision making how do we treat the following components and why: a.Depreciation of the equipment b.Resale value of the equipment and c.Allocated common fixed cost1. When outcome of a construction contract is estimated reliably, contract revenue and contract costs associated with the construction contract should be recognized using * A. cost recovery method B. percentage of completion method C.gross profit method D.zero profit method.
- The write-off of the cost of plant and equipment is called a.amortization. b.depletion. c.depreciation. d.deteriorationDefine the term salvage value of the equipment?The cost-plus approach: a. refers to contracts that are modified from their original terms during the course of the contract. b. refers to contracts where the contractor is not expected to recover all costs incurred in completing the project. c. is not allowed under ASC Topic 606 guidance for revenue recognition. d. uses an assumed reasonable profit margin to determine the stand-alone price.