A profit on the disposal of a non-current asset can also be described as: a. An over-provision

Question:

A profit on the disposal of a non-current asset can also be described as:

a. An over-provision for depreciation on the asset

b. An increase in non-current assets on the balance sheet

c. An increase in the bank balance

d. An under-provision for depreciation on the asset

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Introduction To Accounting And Finance

ISBN: 9780273711629

2nd Edition

Authors: Geoff Black

See More Books

Question Posted: May 31, 2024 03:09 AM

See More Questions

Emergency Medicine plays a vital role in the health care continuum in the United States. Michael Porters' five forces model of industry analysis provides an insight into the economics of emergency...
Consider the following information: Rate of Return if State Occurs State of Economy Boom :57 Bust of Economy .66 .34 Probability of State Stock A .09 .13 Stock B Stock C .03 .19 .24 -.04 a. What is...
In preparing a Statement of Cash Flows in accordance with IAS 7, a profit on the disposal of a non- current asset should be;(a) added back to operating profit in computing the cash flow from operati...
How does science affect the selection process? Explain your reasoning
There are ten plants in the control plot with mean weight 10.0, and the variance for weight in both populations is known to be 9.0. Compare with the results in Section 8.5, Exercise 1. Recall the...
Prove Theorem 6:
In marginal costing, managerial decisions are guided by contribution margin than by profit.
Consider two countries (Home and Foreign) that produce goods 1 (with labor and capital) and 2 (with labor and land) according to the production functions described in problems 2 and 3. Initially,...
The Walton Toy Company manufactures a line of dolls and a sewing kit. Demand for the company's products is increasing, and management requests assistance from you in determining an economical sales...
What is the effect of overvaluing closing inventory on the current year's profit? a. Decreases the gross profit and net profit b. Increases the gross profit but decreases net profit c. Decreases the...
A business sells an asset on 1 January for 8,000. The asset was bought exactly three years previously for 24,000 and depreciation was charged at 30% p.a. on the diminishing balance method. What is...
The ability to taste PTC (phenylthiocarbamide) depends on the presence of a dominant gene T; nontasters are homozygous for the recessive gene t. This is a situation of classical dominant-recessive...
In this Capstone experience, you will develop a strategy playbook for a selected organization. You may be familiar with the concept of a playbook as it relates to a sports team, but what might that...
On January 1, 2024, the general ledger of Big Blast Fireworks includes the following account balances: Accounts Cash Debit Credit $25,900 Accounts Receivable 46,500 Allowance for Uncollectible...
The WRX can travel 1 / 4 of a mile in 1 3 . 9 sec . Calculate the acceleration over this distance if assumed constant.
You are expected to develop two simulators mimicking the behavior and analyze the performance of iterative multiplication algorithm and add-and-shift multiplication algorithm. You are free to use any...
A.BRK Company, which Manufactures bags, has a Capacity of 130,000 bags per month. Currently its operating capacity is 100,000 units. The company receives a special order of 20,000 bags at $9 a bag. A...
Multiple Choice Question 1. What is a subsidiarys functional currency? a. The parents reporting currency. b. The currency in which transactions are denominated. c. The currency in which the entity...
What are the risks and liability factors in an audit? What are the implications to the auditor? What are the implications to the organization? How can the auditor mitigate these risks and liability...
If John invested $20,000 in a stock paying annual qualifying dividends equal to 4% of his investment, what would the value of his investment be 5 years from now? Assume Johns marginal ordinary tax...
help asap please!
Please, help asap! I have one day. Feedback will be given. & show some work. [in Excel] For the final project you will need you to create a spreadsheet /proforma of the cash flows from a property....

A profit on the disposal of a non-current asset can also be described as: a. An over-provision

Question:

Step by Step Answer:

Introduction To Accounting And Finance

Students also viewed these Business questions