When an intangible asset is amortized: OA. stockholders' equity decreases. OB. net assets decrease. OC. net income decreases. D. all of the above are correct.
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- When an asset increases, a liability must also increase.Consider the following graph. According to CAPM, which of the following is TRUE? Assets E and F are overpriced Asset B is underpriced; asset E is correctly priced Assets C and D are correctly priced Assets A and C are underpricedA decrease in net assets arising from peripheral or incidental transactions is called a(n) * O capital expenditure. O cost. O loss. expense.
- Net Capital gain is an item of income, while net capital loss is not an item ofdeduction. a.true b.falseConsider the following graph. According to CAPM, which of the following assets is overpriced? Assets A and B Assets D and E Assets E and B Assets D and FThe adjusted basis of an asset is the original cost (or basis) plus capital recoveries less capital additions. True False
- Depreciation occurs as a result of: A. Wear and tearB. Decrease in the value of assetsC. Increase in the value of liabilityD. Decrease in capitalGive an example of Current Asset, Current liabilities, Non Current Asset, Non Current LiabilitiesLoss contingencies are usually recognized in the income statements of the period when a. realized b.the amount can be reasonably estimated c. occurrence is reasonably possible and the amount can be reasonable estimated d. occurrence is probable and the amount can be reasonably estimated This question is required.
- 1. If a Revaluation of an asset is done for the first time and there is a revaluation gain, this should be shown in a. Other Comprehensive Income as a Negative figure b. Other Comprehensive Income as a Positive figure c. The Statement of Profit and Loss Account as an Expense d. The Statement of Profit and Loss as IncomeAssets are usually valued under which basis? A. replacement costB. historical costC. net realizable valueD. present value(5). Intangible assets are initially recorded at (a). cost (b). expected future value (c). expected present value of expected cash flows (d). present fair value