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 52 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

steff9894

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Summation of Heart Sounds, Fixed Splitting of S2 Summation of Heart Sounds, Fixed Splitting of S2
True-color image of layers of haze in Titan's atmosphere. True-color image of layers of haze in Titan's atmosphere.
Antineutrophil cytoplasmic antibody staining patterns. Indirect immunofluorescence of ethanol-fixed ... Antineutrophil cytoplasmic antibody staining patterns. Indirect immunofluorescence of ethanol-fixed ...
Intermediate Accounting (Gordon/Raedy/Sannella) Intermediate Accounting (Gordon/Raedy/Sannella)
Cost Accounting: A Managerial Emphasis 16th Edition Cost Accounting: A Managerial Emphasis 16th Edition
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Video: Cortisol (protein catabolism, gluconeogenesis, vasoconstriction & anti-inflammation)

For a complete list of videos, visit our video library