Which of the following is the least likely treatment of an asset under U.S. GAAP? Group...
Which of the following is the least likely treatment of an asset under U.S. GAAP?
Group of answer choices
a. The carrying value of an asset is recorded as $18,000 when the value of future cash flows from the asset is $19,000.
b. A cost of $100,000 incurred in the development of software to improve the operating efficiency is capitalized.
c. A loss of $100 is recognized when the fair value of the equipment falls from $250 to $150.
Homework Answers
ANSWER: (A) is least likely treatment of asset under U.S.GAAP. But the cost incurred inthe development of software is to increase operating efficiency is capitalized under U. S. GAAP. And when fair value of equipment is fall is recognized as a loss under U. S. GAAP.
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