Which of the following is not a characteristic of an asset?
Answer : ( A ) The entity has little or no discretion to avoid
Which of the following is not a characteristic of an asset? 17 Murple Choice The entity...
According to the Conceptual Framework which of these is not an essential characteristic of an asset? Select one: O a. The future economic benefits can be reliably measured. O b. There must be future economic benefit O c. The entity must have control over the future economic benefits. O d. It must have a re-sale value.
Subsequent to the initial recognition of an asset an entity has a choice on the measurement basis to be adopted. The entity can choose either: Select one: a. current or non-current O b. tax or accounting O c. cash or accrual d. cost or revaluation
Chapter 9 1) Which of the following is NOT a characteristic of a plant asset? A) The asset is used in the production of income for the business By The asset is available for sale to customers in the ordinary course of business. The asset has physical for Dj The asset has future usefulness and value. 2) Which of the following would be experised, rather than capitalized? Oil change and lubrication 3) Major engine overhaul Modification for new use )...
All of the following are criteria that financial reporting requires before recognizing an obligation as a liability except: a. The transaction or event that gave rise to the obligation has already occurred. b. The firm has a present obligation and little or no discretion to avoid the transfer. c. The firm must know the precise amount of the obligation before recording it. d. The obligation involves a probable future sacrifice of economic benefits—a future transfer of cash, goods, or services;...
Question 1a) Which of the following is NOT an essential characteristic to all assets? a) A resource owned by the entity. b) As a result of a past event. c) A resource controlled by the entity. d) A present economic resource. Question 1b) Which of the following characteristics of a company business structure is TRUE? a) All of the other options. b) Easy to start up. c) Directors have limited liability. d) A separate legal entity.
Which of the following is not a major characteristic of a plant asset?Select one:a. Long-term in natureb. Acquired for resalec. Possesses physical substanced. Acquired for use
Which of the following is not a characteristic of financial accounting? Multiple Choice Reports are prepared periodically. Financial reports are prepared according to GAAP. Information is used by external parties. Information is subjective, relevant and future-oriented
TB MC Qu. O4-41 Which of the following entity... Which of the following entity characteristics are generally key drivers for small business owners in deciding which entity to choose? Multiple Choice Rate at which income from entity will be taxed. Required accounting period. Liability protection. Rate at which income from entity will be taxed and required accounting period. Rate at which income from entity will be taxed and liability protection.
Which choice is not a characteristic of a competitive market? O firms sell similar products O firms have some degree of control over prices O little or no barriers to entry O a large number of firms offering similar products
Question 13 Which of the following best describes a deferred tax asset? O An asset created when a company purchases tax-free bonds. O An asset created by deferring a tax benefit to a future period. O An asset created when a company prepays its income taxes to the IRS. O An asset created by deferred a tax obligation to a future period. Previous No new data to save. La