According to which concept, tangible fixed assets are depreciated on the basis of expected life rather than
Question:
According to which concept, tangible fixed assets are depreciated on the basis of expected life rather than on the basis of market value.
(a) Conservatism concept
(b) Money measurement concept
(c) Going concern concept
(d) Consistency concept
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
The correct answer is c Going concern concept According to the g...View the full answer
Answered By
Owino Otieno
My proficiency as a tutor lies in my ability to understand and respond to questions, provide explanations, and offer detailed information on various topics. I can help with academic subjects such as mathematics, science, history, literature, and more. I can also provide assistance with writing, proofreading, and language learning.
I am capable of adapting to different learning styles and can present information in a clear and concise manner. I can break down complex concepts into simpler terms, provide examples and illustrations, and engage in interactive discussions to enhance the learning experience. Additionally, I can offer guidance on problem-solving strategies, critical thinking, and exam preparation.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting For Management
ISBN: 9789385965661
4th Edition
Authors: Neelakantan Ramachandran, Ram Kumar Kakani
Question Posted:
Students also viewed these Business questions
-
1. How strong are the competitive forces confronting J. Crew in the market for specialty retail? Do a [Michael Porter] five-forces analysis to support your answer. (see chapter 3 in the textfor...
-
China Petroleum and Chemical Corporation China Petroleum and Chemical Corporation (CPCC) is one of a growing number of Chinese companies that has cross-listed its stock on foreign stock exchanges. To...
-
Family Finance Co. (FFC), a publicly traded commercial bank located in South Carolina, has a December 31 year-end and has adopted the provisions of Accounting Standards Update (ASU) 2016-01,...
-
Day and Night formed an accounting partnership in 2014. Capital transactions for Day and Night during 2014 are as follows: Partnership net income for the year ended December 31, 2014; is $68,400...
-
Dade Co. both purchases and constructs various equipment it uses in its operations. The following items for two different types of equipment were recorded in random order during the calendar year...
-
Give an example of a nontrivial homomorphism for the given groups, if an example exists. If no such homomorphism exists, explain why that is so. : S 3 S 4
-
Create a coloring of Graph \(K\), which uses exactly two colors, or explain why it is not possible. Use Graphs \(A\) and \(K\) in Figure 12.352.
-
On October 1, Venden Corporations stockholders equity is as follows. Common stock, $5 par value .............. $400,000 Paid-in capital in excess of parcommon stock ...... 25,000 Retained earnings...
-
\f
-
If an accountant overstates a business entities resources (or material assets) then we can state that he is violating the ______________ principle of accounting.
-
Arijit Singh recently purchased a Bolbo car and fell in love with it to the extent that he renamed ahimself as Bolbo Arijit Singh. Yet, he stuck to his business plan of releasing albums. He...
-
Illustrate the seven different types of friezes when they are classified according to their symmetries. Imagine the figure shown to be continued infinitely to the right and left. The symmetry group...
-
Inaaya is a diligent mother who has just finished supporting her two children, Michael, aged 23, and Emily, aged 25, through their university education. Both Michael and Emily have embarked on their...
-
The rate of growth of the population N(t) of a new city t years after its incorporation is estimated to be dN 500+900t dt where Ost 16. If the population was 2,000 at the time of incorporation, find...
-
The angle is 60.0 and L = 0.497 m. We are interested in the unmarked point midway between the charges q1 and q2 on the x axis. For starters, calculate the magnitude and direction of the electric...
-
Define s(x) = 5+8x - 6x + 2x on 1 x 2, and s(x) = 27-40x+18x2x on 2 x 3. Verify that s(x) is a cubic spline function on [1, 3]. Is it a natural spline function on this interval? Please select file(s)...
-
Consider American call and put options on a debenture bond. The options expire in 55 days. The bond is currently at $1.10 with $1 par value and makes deferred payments over life of the option. The...
-
A friend is doing his chemistry homework and is working with the following chemical reaction. 2C2H2(g) + 5O2(g) 4CO2(g) + 2H2O(g) He tells you that if he reacts 2 moles of C2H2 with 4 moles of O2,...
-
The area of a rectangle is 30 cm 2 and its perimeter is 26 cm. Find the length and width of the rectangle.
-
Insurance companies and pension plans hold large quantities of bond investments. Sea Insurance Corp. purchased $2,400,000 of 4.0% bonds of Sheehan, Inc., for 110 on January 1, 2010. These bonds pay...
-
Insurance companies and pension plans hold large quantities of bond investments. Safe Insurance Corp. purchased $2,700,000 of 8.0% bonds of Sherman, Inc., for 118 on January 1, 2010. These bonds pay...
-
Microsoft Corporation is the defendant in numerous lawsuits claiming unfair trade practices. Microsoft has strong incentives not to disclose these contingent liabilities . However, GAAP requires that...
-
The following data have been recorded for recently completed Job 4 5 0 on its job cost sheet. Direct materials cost was $ 2 , 1 0 2 . A total of 4 1 direct labor - hours and 1 9 7 machine - hours...
-
Using the Sensitivity Report from the Quality Air Conditioning problem, answer the questions below: Table 1 : Sensitivity Report Variable Cells \ table [ [ Cell , Name, \ table [ [ Final ] , [ Value...
-
1 7 1 point Courses 1 Financial statements are prepared after an entity's transactions are analyzed and recorded. Which of the following reports is NOT one of the required financial statements?...
Study smarter with the SolutionInn App