hich of the following is a correct statement?     Inventory is not part of the current assets because they are physical in nature.     Plant, equipment, building and land are non-current assets, but not fixed assets.     Marketable securities such as stocks & bonds are current assets.     Cash is the only liquid asset.     Physical assets are financed by equity

Q: 9. Which of the following statements is correct? The term non-current assets includes tangible,…

A: The operating cycle represents the time lag between buying the goods and converting them in the form…

Q: Why are fixed assets reported on the balance sheet at a price that may not be accurate

A: Fixed assets are those that are not subject to change. Fixed assets are retained for an extended…

Q: How is a decrease in current liabilities handled? A. It is subtracted from current assets in the…

A: The correct option is (C) It is subtracted from net income in the cash flow from Operating…

Q: and

A: Answer: Income statement-Negative effect: Inventories are not recorded in the income statement.…

Q: d o

A: The correct answer is  C) Traffic speed of suppliers

Q: Do financial statements prepared under IFRS normally present assets from least liquid to most liquid…

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: Which of the following would be classified as an intangible asset on the balance sheet? Mutiple…

A: These are the long-term assets that are not physical in nature but possess value. The intangible…

Q: Liquidity is simply: a. another term for current liabilities O b. another term for cash O c. a…

A: Definition: Liquidity means how quickly you can get your hands on your cash. In simpler terms,…

Q: Depreciation does not involve movement of cash, therefore unnecessary in accounting for an entity’s…

A: Depreciation means allocation of the cost of the asset over the useful life of the asset. This is…

Q: The hardest asset to control within any organization is O land. O accounts receivable. O inventory.…

A: Assets: Properties or things owned by business called Assets.

Q: Current Assets do not include Select one: a. Inventories b. All the options c. Trade Receivables d.…

A: Current assets are assets that are easily converted into cash within one year.

Q: What if noncurrent asset is not a subtitle I can chose from? Is there another heading I can use or…

A: The non-current assets means those assets which are not current assets, i.e. they would benefit the…

Q: depreciation does not involve the movement of cash,therefore uncessary in accountiong for an…

A: Depreciation is charged to allocate the cost of the asset over the useful life of the asset. This is…

Q: why are inventories considered a current asset and not part of long-term assets

A: Inventory is one of the important asset being used in business. It includes inventory of raw…

Q: TRUE OR FLASE? An entity must make the current and noncurrent presentation of assets and…

A: Assets are the resources owned by an entity either for sale (such as inventory) or for the future…

Q: 34. Which type of assets are generally known as the foundation of the business. a. Intangible assets…

A: Foundation of business means that thing on which the business is built or which effect the long term…

Q: Marketable securities are also considered as liquid assets but not as liquid as cash. * Right O…

A: Correct answer: Right. Cash and the Marketable securities both are types of liquid assets. A liquid…

Q: The acquisition of assets by issuing securities would be classified as an operating activity. an…

A: Issuing securities for the acquisition of assets doesn't involve any cash flows.

Q: 1. What is the general trend of the company’s current assets? Did you observe any account with…

A: "Since you posted a question with multiple sub-parts, we will solve the first three sub-parts for…

Q: These are conditions required by IFRS 9 for notes and accounts receivable to be measured at…

A: The accumulated portion of the fixed asset that has been charged to expenditure through either…

Q: nvesting activities do not include cas

A: Investing activities refer to the acquisition and disposal of long-term assets and investments that…

Q: The "net book values" of fixed assets are stated on the balance sheet. Are these figures close to…

A: The Answer

Q: he purpose of depreciation expense

A: Depreciation is a measure of wearing out of assets from its use efflux over time or obsolete through…

Q: The term net identifiable assets means: (A) All assets minus all liabilities. (B) All assets except…

A: Assets indicates the resources owned by the business entity. It is shown in the balance sheet which…

Q: Where non-current assets are held for sale, they are required to be measured using: the…

A: Non-current assets are held for sale - Non Current Assets are part of the assets in the balance…

Q: Listed below are nine technical accounting terms introduced in this chapter. Uncollectible accounts…

A: Accounting is the term which is defined as the procedure of recording the financial transactions in…

Q: One of these components is not included in the current asset of an organisation. O A. Short term…

A: Current assets include those assets that a company can convert into cash within a year. Current…

Q: For each case of a financial asset that is not related to one another, explain (must be accompanied…

A: Step 1   Financial assets are the assets which have the following characteristic   Contractual…

Q: 14) Which of the following is the least liquid current asset? A) Accruals B) Accounts receivable C)…

A: As a result of the fact that inventory consists of goods that are held with the intention of selling…

Q: When an asset is sold at a gain, why is the gain not reported as a cash inflow from operating…

A: Cash Flow Statement: Cash Flow Statement is a fundamental financial statement that renders valuable…

Q: Please answer with reason for all why the option is correct and why the other options are…

A: Assets are the main rights and resources being held in business. There can be current assets, non…

Q: Question: Classification of liabilities is based on the same principles as the classification of…

A: An accounting principle is a fundamental guideline that forms the basis for financial reporting and…

Q: What is the common characteristic of all the assets owned by a company? A. Intangible B. Long Life…

A: Assets are resources owned by a company that hold economic value and are expected to provide future…

Q: An asset is anything that is a resource of value that can be converted into cash. Individuals,…

A: The importance of the correct determination of an asset's value:Accuracy in financial reporting.…

Q: The assets which does not have physical existence are called: Intangible assets None of these…

A: Tangible Assets: These assets are Physical, Measurable Resources; like Property, Plant &…

Q: Assets do not include: Multiple Choice O O O investments. accounts receivable. property, plant, and…

A: Lets understand the basics.Assets are the resources with economic value which is control by either…

Q: Which of the following are classed as fixed assets? I. Debtors II. Plant and machinery III. Cash in…

A: Fixed asset indicating a long term usable assets that cannot converted quickly into cash. There are…

Q: Which of the following items should not appear on the Cash Flow Statement

A: Cash Flow Statement: It is a financial statement that shows the summary of the cash entering and…

Q: Money is a claim against both real and financial assets. True/false.

A: Financial assets are intangible assets that represent a claim to an economic resource. They are…

Basic Accounting Terms

Accounting terms are accounting terminology, accounting jargon, accounting acronyms, and accounting vocabulary that are commonly used to understand accounting fundamentals. It would be difficult for anyone to read, understand, and interpret the company's financial statements if they did not understand and know the meaning of the basic accounting terms.