1. The amount that a company would have to pay today to acquire an asset it...
1. The amount that a company would have to pay today to acquire an asset it now holds is called -
a acquisition cost
b current cost
c current replacement cost
d historical cost
2. Net income equals revenues plus (gains or loss) minus expense and (gains or loss)
Homework Answers
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1. Option A is the answer The cost it takes the company to purchase an asset and put it ready to use is called "acquisition cost" |
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2. Net income = Revenues plus gains minus expenses and losses |
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