Question: How do pre-opening costs affect new branch accounting? a) Capitalize until opening b) Add to goodwill c) Defer and amortize d) Expense as incurred office

Question Accounting

According to the acquired assets should be recorded at the amount actually paid rather than at the estimated market value. O A. monetary unit assumption O B. going concern assumption O C. cost principle D. economic entity concept

Capitalizing a cost involves increasing what type of account?a. Liabilityb. Expensec. Stockholders’ equityd. Asset

Multiple choice: 1. It is a present obligation that has resulted from past events and has the potential to cause a transfer of an economic resource in its settlement. A. income B. asset C. equity D. liability 2. The usefulness of information is assessed in terms of its A. qualitative characteristics. B. timeliness C. verifiability D. size

Which should be subtracted from the net income when using the indirectmethod? A. Loss on sale of investmentB. Amortization of patentC. Increase in accounts receivableD. Increase in accounts payable

General Accounting

Which of the application of of a. Presenting a the related s b. Deducting fe gains and pr c. Deducting u trading secu d. Deducting a account and

Which one of the following category outstanding expenses belong to? a. Intangible asset b. Current liability c. Non-current asset d. Current asset   fast

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