Multiple Choice
Applying the asset recognition criteria,which of the following accounting treatments are incorrect?
A) Transfer duties were included in the cost of acquisition of the photocopier.
B) Monthly servicing of the photocopier was capitalised.
C) Monthly servicing of the photocopier was expensed.
D) Replacement of a minor component part of the photocopier was expensed.
Correct Answer:
Verified
Correct Answer:
Verified
Q15: In the case of classifying a liability
Q16: If the entity received a donated asset
Q17: Which of the following measurement bases are
Q18: Current generally accepted accounting practices require one
Q19: If an asset's 'value in use' exceeds
Q21: AASB 116 Property,Plant and Equipment allows both
Q22: Advertising costs are not typically capitalised because:<br>A)
Q23: A reporting entity must have legal ownership
Q24: Which of the following assets are recognised
Q25: Future economic benefits can only be derived