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 53 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
Thanks for the timely response, appreciate it

peter

  • Member
  • Posts: 330
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

A fixed action pattern elicited by a sign stimulus. A fixed action pattern elicited by a sign stimulus.
Nap master (fixed) Nap master (fixed)
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
MANAGEMENT ACCOUNTING MANAGEMENT ACCOUNTING
A 31.1-g sample of Ne gas exerts a certain pressure in a container of fixed volume. What mass ... A 31.1-g sample of Ne gas exerts a certain pressure in a container of fixed volume. What mass ...
Video: Michaelis–Menten equation & Kinetic parameters

For a complete list of videos, visit our video library