This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is true about accounting for fixed assets? (Read 22 times)

@Brianna17

  • Hero Member
  • *****
  • Posts: 550
on: Apr 8, 2019
Which of the following is true about accounting for fixed assets?
◦ Depreciation expense under IFRS will likely be higher than under GAAP, because acquisitions of assets with multiple components must be separately depreciated under IFRS, whereas under GAAP assets could be bundled and depreciated over the longest of the useful life for any of the components.
◦ IFRS doesn't allow capitalization of any asset that separately accounts for less than 20% of total assets.
◦ Depreciation expense under IFRS will likely be less than under GAAP, because standards for depreciable lives on asset classes are much longer than under GAAP.
◦ IFRS and GAAP account for fixed assets in much the same way.
Accounting Information Systems ¦ Romney, Steinbart ¦ 14th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by @Brianna17 on Apr 8, 2019

ntsoane kedibone

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Apr 8, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


@Brianna17

  • Member
  • Posts: 550
Reply 2 on: Apr 8, 2019
YES! Correct, THANKS for helping me on my review

billybob123

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

True-color image of layers of haze in Titan's atmosphere. True-color image of layers of haze in Titan's atmosphere.
True Friendship True Friendship
Adapoids and omomyoids had longer snouts and are the first “true” primates. Adapoids and omomyoids had longer snouts and are the first “true” primates.
Which is TRUE about the alternation of generations cycle that is diagramed above? Which is TRUE about the alternation of generations cycle that is diagramed above?
MANAGEMENT ACCOUNTING MANAGEMENT ACCOUNTING
Video: Fertilization and Development

For a complete list of videos, visit our video library