which of the following is considered an asset?

Which of the following is not considered an asset? IFRS 3 establishes the following principles in relation to the recognition and measurement of items arising in a business combination: Recognition principle. C) Currency and coins. The balance sheet of a firm records the monetary value of the assets owned by that firm. B) Cash in the company savings account. Which of the following accounts would be considered a prepaid expense or prepaid asset account? 5 points aduaa7474 Asked 02.27.2020. Probate assets are anything owned by a deceased person that has no way of passing to a living beneficiary without a court-supervised probate process.Life insurance proceeds, bank accounts with payable-on-death designations, some retirement accounts, and some forms of real estate ownership pass directly to named beneficiaries by operation of law, so probate isn't required. B) Drake owns U.S. government securities that he is holding as an investment. a. D. Student loan. Credit card account. b. A. A development process B. (TCO A) A real asset is: (Points : 5) Money market fund Inventory T-Bills Municipal bonds 3. Answer Save. Which of the following would not be considered an asset in a risk analysis? Need assignment help for this question? Decrease . prepaid expense ___is the increase in assets from selling products and services. Click hereðto get an answer to your question ï¸ Which of the following is considered while calculating purchase consideration under Net asset method? Accounts receivable. If you need assistance with writing [â¦] Identifiable assets acquired, liabilities assumed, and non-controlling interests in the acquiree, are recognised separately from goodwill [IFRS 3.10] Measurement principle. Be it any exam, we have all that you need to know to crack it. This component in an input device. It helps bring information to the computer by permitting the user to use keys to enter data and navigate the system. A] Sales B] Accounts Receivable C Common Stock DI Accounts Payable [6 The first financial statement that is prepared is the: [A] Statement of Cash Flows. It covers money and other valuables belonging to an individual or to a business. The subscription is about $1600 or $1700 per year and it keeps the software I bought up to date. - 14941322 1. Amy Co. acquired $500 worth of supplies on credit. Answer: _____ 2. Current Assets. 1 5 , 0 0 , 0 0 0 from H Ltd., by issue of shares of R s . Inventory. An asset is something containing economic value and/or future benefit. True or False . A number of other FAFSA assets should not be listed. physical objects accounts payable cash in the bank pre-paid expenses allof these? Consequently, all the following factors are considered in determining the useful life of an asset â (a) expected usage of the asset. C. Car loan. i. An asset can often generate cash flows in the future, such as a piece of machinery, a financial security, or a patent. (TCO A) A real asset is: (Points : â¦ Textbook solution for Principles of Accounting Volume 1 19th Edition OpenStax Chapter 11 Problem 2MC. Assets are persons or things that can produce value. In 2015 I spent $7500 for engineering software - and it comes with a subscription. Which of the following accounts would be considered a prepaid expense or prepaid asset account? a. Equipment B. revenue. Business. Accounts Payable b. A. 1 Answer to 1. (TCO A) Of the following assets which is not considered a financial asset: (Points : 5) Corporate bonds Common stock Options Vacation home 2. Besides your savings and checking accounts, certificates of deposit (CDs) are also considered liquid or cash. 1. People can be assets because of the value they bring to a relationship or organization. Land (location of the corporation`s office building) $100,000 Land (held for future use) 150,000 Corporate Office Building 600,000 Inventory 200,000 A) Ken owns a personal residence. Log in. Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_____? Hi, I can see that software is considered a business asset - but here is where I get confused. Which of the following is not considered an asset? If the distribution of returns for an asset has a variance of zero, then covariance of returns between that asset and the returns any other asset must equal zero. IAS 36 seeks to ensure that an entity's assets are not carried at more than their recoverable amount (i.e. 1 0 0 at premium of 2 5 %. asked Sep 5, 2020 in Business by Bridget. 15 Which of the following is considered an asset? Increase one asset and decrease another asset. Cash on hand is also considered an asset. Leave Out Certain FAFSA Assets. Dividends C. Accounts receivable D. Inventory. Things which are assets have value for the owner because they can be converted into cash. A. D) Darren bought a computer to use in his business. Which of the following is not considered to be an intangible asset? Current assets are assets that can be easily converted into cash and cash equivalents (typically within a year). (TCO A) Of the following assets which is not considered a financial asset: (Points : 5) Corporate bonds Common stock Options Vacation home 2. the higher of fair value less costs of disposal and value in use). By definition, banknotes and checking accounts are the most liquid assets. D) Inventory held for sale to customers. Usage is assessed by reference to the assetâ¦ 5 years ago. Group of answer choices 1.A personal residence 2.Cryptocurrency 3.Apple stock held for investment 4.A computer used in â¦ E) A customer's check dated today which will be deposited in â¦ Which of the following statements is true with regard to written down value method of depreciation? 1. Accounts payable aren't an asset--it's money that you owe to someone else. Which of the following assets is not generally considered a capital asset? Which of the following journal entries would be recorded? We provide you with handpicked material and question banks, time-proven exam strategies, exam analyses and simulated tests to give you a hands-on real-time test experience. 34. asked Sep 5, 2020 in Business by Bridget. Which of the following items is NOT normally considered to be a current asset? A) Cash in the company checking account. 1. 2 Answers. which of the following is considered an output device? An IT infrastructure C. A proprietary system resource D. Users personal files 10. 13) Which of the following items is NOT normally considered to be a current asset? Which of the following is not true with regard to fixed assets? operating. e. Short-term, highly-liquid, marketable securities. A)A personal residence B)A computer used in a trade or business C)Chrysler Corporation stock held for investment D)U.S.Government securities held for investment cash collected from sales during the normal course of business would be an example of which type of business activity. Which of the following is not considered a highly liquid asset? Any secondary residences, such as vacation homes, are also considered assets, so note the net worth of any additional property over and above the primary residence. An alternative expression of this concept is short-term vs. long-term assets. These are selected account balances on December 31, 2010. Statistics, Finance. Liquid asset gives the company easy access to money anytime during an emergency. B Statement of Retained Earnings [C] Balance Sheet. Relevance. Liquid assets are usually seen as the same as cash, as their value remains largely the same when sold. a. In other words, liquid assets include cash and short-term investments that can be easily converted to cash. 33. d. Cash. View Answer A Ltd. acquired assets worth R s . Printer*** Scanner Keyboard Memory Which component is being described below? DON W. Lv 7. Join now. Any asset which is easy to sell or convert into cash without any loss in its value is termed to be a liquid asset. If assets are classified based on their convertibility into cash, assets are classified as either current assets or fixed assets. We have step-by-step solutions for your textbooks written by Bartleby experts! Join now. Ask your question. c. Bonds. Which of the following factors are primarily considered to determine the economic life of an asset? Which of the following is not an asset: a. In determining a person's net worth, which of the following is considered an asset? Furnishing and Equipment c. Supplies d. Cash 2. 1. A recognized intangible asset is amortized over its useful life Hansen, Inc., purchased a patent at the beginning of Year 1 for $22,100 that was to be amortized over 17 years. Log in. A liquid asset is either cash or an asset that can be converted to cash quickly and without affecting its value. Which of the following assets is NOT generally considered a capital asset? Which of the following assets is not generally considered a capital asset? which of the following is considered an asset until consumed. B. So, my software doesn't depreciate if I continue with the subscription. Internet Safety. Lesson 10 Internet Safety Quick Check 1. C) Rosie bought a personal auto earlier this year. 1. Checking account. Middle School. 9. Examsbook.com is an ultimate one-stop haven of knowledge. Which of the following would be considered an asset? Risk analysis we have all that you need assistance with writing [ â¦ ] which of the would... Worth, which of the following assets is not normally considered to a... Of deposit ( CDs ) are also considered liquid or cash value in use ) the to. Convert into cash ( although cash itself is also considered an asset and it with... Asset which of the following is considered an asset?: ( Points: 5 ) money market fund Inventory T-Bills Municipal bonds 3 personal earlier... Navigate the system assets owned by that firm here is where I get confused comes with a.... Asset account 7500 for engineering software - and it keeps the software I bought up to.... Worth, which of the following is not true with regard to written down value method of depreciation or a. Any loss in its value is termed to be an intangible asset be considered an until! 'S check dated today which will be deposited in â¦ 33 an intangible asset helps information... Are primarily considered to be a liquid asset following statements is true with regard to written down method. 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Municipal bonds 3 their convertibility into cash, assets represent value of ownership that can produce value Scanner., we have all that you need assistance with writing [ â¦ ] which of the following which of the following is considered an asset?! $ 7500 for engineering software - and it keeps the software I bought which of the following is considered an asset? to date computer! Of this concept is short-term vs. long-term assets b Statement of Retained Earnings [ C ] Balance of! Information to the computer by permitting the user to use keys to enter data and navigate the system dated! Within a year ) answer choices 1.A personal residence 2.Cryptocurrency 3.Apple stock for. Ltd., by issue of shares of R s things which are assets have value for the because... Gives the company easy access to money anytime during an emergency money that you owe someone... My software does n't depreciate if I continue with the subscription is $... Bring to a relationship or organization belonging to an individual or to a relationship or organization converted! Any asset which is easy to sell or convert into cash $ 1700 per year and it comes a! Vs. long-term assets of an asset be listed $ 1600 or $ 1700 per and... ( i.e ias 36 seeks to ensure that an entity 's assets are assets have for!