Need help with accounting question?

Answers:0   |   LastUpdateAt:2012-08-14 08:14:03  

Question
Ela
Asked at 2012-08-14 08:14:03
1 . Which of the following must be included in the cost of land acquisition ?

A. property taxes in arrears.
B. Transfer title and insurance fees.
C. Sales commissions.
D. Recognition fees.
E. All of the above .

2 . Depreciation of the cost of storage

A. reduces both net income and the amount of cash generated by a company.
B. does not affect net income or the amount of cash generated by a company.
C reduces the net income and increases the amount of cash generated by a company.
D. reduces net income, but does not affect the amount of cash generated by a company.
E. None of the above is correct.

3.A company has a policy that trading of its fleet of delivery trucks every three years compared to another company with a policy of negotiating their trucks every five years, most likely have

A. a higher estimate of the residual value at the beginning of its life.
B. below book value at the end of its useful life.
C. depreciation accumulated over the end of its useful life.
D. Both B and C.
E. All of the above .

4.Which of the following would be classified as an operational program (fixed ) assets?

A. Land purchased and held for sale by a realtor .
B. The land purchased and held for development by Wal -Mart as a site of the new store.
C. The land and buildings owned by Toys
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