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Author Question: Improperly classifying a fixed asset by recording the amount in the repairs and maintenance expense ... (Read 57 times)

903f23fj0

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on: Aug 21, 2022

Question 1

Failure to capitalize a fixed asset at the correct amount would impact which financial statements?
◦ the balance sheet
◦ the income statement
◦ the cash flow statement only
◦ both the income statement and the balance sheet

Question 2

Improperly classifying a fixed asset by recording the amount in the repairs and maintenance expense account will have an effect on which of the following financial statements until the asset would normally have been depreciated?
◦ the balance sheet
◦ the income statement
◦ the cash flow statement
◦ both the income statement and the balance sheet
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by 903f23fj0 on Aug 21, 2022

ryanb

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Reply #1 on: Aug 21, 2022
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.
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903f23fj0

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

mcabuhat

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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