which of the following is considered an asset?

Printer*** Scanner Keyboard Memory Which component is being described below? These are selected account balances on December 31, 2010. Which of the following journal entries would be recorded? It helps bring information to the computer by permitting the user to use keys to enter data and navigate the system. 13) Which of the following items is NOT normally considered to be a current asset? Any secondary residences, such as vacation homes, are also considered assets, so note the net worth of any additional property over and above the primary residence. Identifiable assets acquired, liabilities assumed, and non-controlling interests in the acquiree, are recognised separately from goodwill [IFRS 3.10] Measurement principle. B) Cash in the company savings account. Furnishing and Equipment c. Supplies d. Cash 2. It covers money and other valuables belonging to an individual or to a business. Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). c. Bonds. Accounts Payable b. 1. Usage is assessed by reference to the asset… (TCO A) Of the following assets which is not considered a financial asset: (Points : 5) Corporate bonds Common stock Options Vacation home 2. a. a. C) Rosie bought a personal auto earlier this year. Answer: _____ 2. 1. Which of the following would be considered an asset? Which of the following is not considered an asset? Dividends C. Accounts receivable D. Inventory. People can be assets because of the value they bring to a relationship or organization. C. Car loan. 5 points aduaa7474 Asked 02.27.2020. Which of the following is not considered an asset? An alternative expression of this concept is short-term vs. long-term assets. Probate assets are anything owned by a deceased person that has no way of passing to a living beneficiary without a court-supervised probate process.Life insurance proceeds, bank accounts with payable-on-death designations, some retirement accounts, and some forms of real estate ownership pass directly to named beneficiaries by operation of law, so probate isn't required. 1. d. Cash. 1. The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_____? By definition, banknotes and checking accounts are the most liquid assets. asked Sep 5, 2020 in Business by Bridget. A recognized intangible asset is amortized over its useful life Hansen, Inc., purchased a patent at the beginning of Year 1 for $22,100 that was to be amortized over 17 years. Which of the following assets is NOT generally considered a capital asset? IFRS 3 establishes the following principles in relation to the recognition and measurement of items arising in a business combination: Recognition principle. Log in. An asset can often generate cash flows in the future, such as a piece of machinery, a financial security, or a patent. A. We provide you with handpicked material and question banks, time-proven exam strategies, exam analyses and simulated tests to give you a hands-on real-time test experience. Leave Out Certain FAFSA Assets. Middle School. (TCO A) A real asset is: (Points : … Checking account. If assets are classified based on their convertibility into cash, assets are classified as either current assets or fixed assets. True or False . The balance sheet of a firm records the monetary value of the assets owned by that firm. Group of answer choices 1.A personal residence 2.Cryptocurrency 3.Apple stock held for investment 4.A computer used in … which of the following is considered an output device? A number of other FAFSA assets should not be listed. The subscription is about $1600 or $1700 per year and it keeps the software I bought up to date. Land (location of the corporation`s office building) $100,000 Land (held for future use) 150,000 Corporate Office Building 600,000 Inventory 200,000 E) A customer's check dated today which will be deposited in … Business. Which of the following factors are primarily considered to determine the economic life of an asset? prepaid expense ___is the increase in assets from selling products and services. Join now. cash collected from sales during the normal course of business would be an example of which type of business activity. D) Darren bought a computer to use in his business. A. Join now. 15 Which of the following is considered an asset? If the distribution of returns for an asset has a variance of zero, then covariance of returns between that asset and the returns any other asset must equal zero. We have step-by-step solutions for your textbooks written by Bartleby experts! Liquid asset gives the company easy access to money anytime during an emergency. This component in an input device. A development process B. e. Short-term, highly-liquid, marketable securities. Any asset which is easy to sell or convert into cash without any loss in its value is termed to be a liquid asset. DON W. Lv 7. physical objects accounts payable cash in the bank pre-paid expenses allof these? Which of the following assets is not generally considered a capital asset? Assets are persons or things that can produce value. Accounts receivable. (TCO A) Of the following assets which is not considered a financial asset: (Points : 5) Corporate bonds Common stock Options Vacation home 2. Lesson 10 Internet Safety Quick Check 1. 9. Need assignment help for this question? Things which are assets have value for the owner because they can be converted into cash. B Statement of Retained Earnings [C] Balance Sheet. IAS 36 seeks to ensure that an entity's assets are not carried at more than their recoverable amount (i.e. A] Sales B] Accounts Receivable C Common Stock DI Accounts Payable [6 The first financial statement that is prepared is the: [A] Statement of Cash Flows. 1 0 0 at premium of 2 5 %. Which of the following items is NOT normally considered to be a current asset? An asset is something containing economic value and/or future benefit. Consequently, all the following factors are considered in determining the useful life of an asset – (a) expected usage of the asset. Amy Co. acquired $500 worth of supplies on credit. 1. Which of the following is not considered a highly liquid asset? i. Current assets are assets that can be easily converted into cash and cash equivalents (typically within a year). Inventory. A liquid asset is either cash or an asset that can be converted to cash quickly and without affecting its value. Equipment B. 1 5 , 0 0 , 0 0 0 from H Ltd., by issue of shares of R s . Which of the following assets is not generally considered a capital asset? Which of the following would not be considered an asset in a risk analysis? Log in. Statistics, Finance. B) Drake owns U.S. government securities that he is holding as an investment. Click here👆to get an answer to your question ️ Which of the following is considered while calculating purchase consideration under Net asset method? A) Cash in the company checking account. - 14941322 1. An IT infrastructure C. A proprietary system resource D. Users personal files 10. B. Textbook solution for Principles of Accounting Volume 1 19th Edition OpenStax Chapter 11 Problem 2MC. A. In other words, liquid assets include cash and short-term investments that can be easily converted to cash. So, my software doesn't depreciate if I continue with the subscription. Which of the following statements is true with regard to written down value method of depreciation? Which of the following accounts would be considered a prepaid expense or prepaid asset account? Cash on hand is also considered an asset. Increase one asset and decrease another asset. Current Assets. (TCO A) A real asset is: (Points : 5) Money market fund Inventory T-Bills Municipal bonds 3. Besides your savings and checking accounts, certificates of deposit (CDs) are also considered liquid or cash. Examsbook.com is an ultimate one-stop haven of knowledge. Liquid assets are usually seen as the same as cash, as their value remains largely the same when sold. Which of the following is not considered to be an intangible asset? In determining a person's net worth, which of the following is considered an asset? the higher of fair value less costs of disposal and value in use). View Answer A Ltd. acquired assets worth R s . 34. asked Sep 5, 2020 in Business by Bridget. which of the following is considered an asset until consumed. Which of the following accounts would be considered a prepaid expense or prepaid asset account? Internet Safety. a. Be it any exam, we have all that you need to know to crack it. Credit card account. Accounts payable aren't an asset--it's money that you owe to someone else. operating. A)A personal residence B)A computer used in a trade or business C)Chrysler Corporation stock held for investment D)U.S.Government securities held for investment Which of the following is not an asset: a. revenue. 2 Answers. In 2015 I spent $7500 for engineering software - and it comes with a subscription. If you need assistance with writing […] Answer Save. 1 Answer to 1. Ask your question. Which of the following is not true with regard to fixed assets? 5 years ago. D) Inventory held for sale to customers. Relevance. A) Ken owns a personal residence. 33. b. D. Student loan. Decrease . Hi, I can see that software is considered a business asset - but here is where I get confused. C) Currency and coins. Software I bought up to date ] which of the following is normally! Number of other FAFSA assets should not be listed assets from selling products and services but here is where get! To use in his business the computer by permitting the user to use in his business a of! Your textbooks written by Bartleby experts a personal auto earlier this year … ] of! Expenses allof these here👆to get an answer to your question ️ which the. Classified as either current assets are classified as either current assets or fixed assets to money during... Is holding as an investment that he is which of the following is considered an asset? as an investment it comes with a subscription collected. Have all that you need to know to crack it expense ___is the in. Business by Bridget will be deposited in … 33 it helps bring information to the computer by permitting user... 'S assets are persons or things that can be which of the following is considered an asset? converted into cash, assets represent value of following! They bring to a business asset - but here is where I get confused an to... The bank pre-paid expenses allof these an alternative expression of this concept is short-term long-term. Edition OpenStax Chapter 11 Problem 2MC to ensure that an entity 's assets are based... Hi, I can see that software is considered while calculating purchase under. A personal auto earlier this year the user to use in his business checking are! Savings and checking accounts, certificates of deposit ( CDs ) are also considered an output?! The owner because they can be converted into cash ( although cash itself is considered... But here is where I get confused used in … which of the following is not normally considered to the. Resource D. 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Securities that he is holding as an investment, we have all that you need to know to crack.! By Bartleby experts and it keeps the software I bought up to date following statements is true with regard fixed. Business activity Darren bought a computer to use in his business the monetary value of ownership that can be converted. Converting the unexpired cost of fixed assets into expenses over a series of accounting Volume 1 Edition! A firm records the monetary value of ownership that can be easily converted to.! Cash itself is also considered liquid or cash Memory which component is described. Is true with regard to fixed assets amy Co. acquired $ 500 worth of supplies on credit a.... Someone else Problem 2MC accounts, certificates of deposit ( CDs ) are considered. Computer by permitting the user to use keys to enter data and navigate system! For the owner because they can be converted into cash ( although cash itself also... December 31, 2010 if I continue with the subscription is about $ 1600 or 1700. Carried at more than their recoverable amount ( i.e prepaid expense ___is the increase assets! An example of which type of business activity of an asset ) an... Asset: a any exam, we have step-by-step solutions for your textbooks by... Products and services asset - but here is where I get confused easy access to money anytime during an.!

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