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Author Question: What is the rule regarding depreciation of federal capital assets classified as general property ... (Read 64 times)

sarasara

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on: Jul 5, 2018
What is the rule regarding depreciation of federal capital assets classified as general property plant and equipment (General PP&E)?
 
  a. All General PP&E is capitalized and depreciated.
  b. General PP&E is capitalized and depreciated only for federal business-type activities.
  c. All General PP&E is expensed at the time of acquisition.
  d. Federal agencies have the option of depreciating or not depreciating General PP&E.

Question 2

The total on the Cash Receipts report generated by QuickBooks software at January 31 would be equal to the
 a. total revenue earned for the month of January
  b. total of the purchases journal on January 31
  c. total of the Cash Dr. column of the cash receipts journal in a manual system
  d. balance in Accounts Receivable at January 31


Jayson

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

c


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