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The acquisition costs of property plant and equipment should include all normal reasonable and necessary costs to get the asset in place and ready for use true or false?
Beckybrowneyes85
true
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∙ 11y ago
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Which Accounting standard governs treatment of property and equipment?
IAS - 16 Property, Plant and Equipment deals with matters governing of property and equipment.
Is property and equipment credit or debit?
property and equipment should be debited if they increases because both are assets
Disadvantages of acquisition?
There really aren't that many disadvantages of acquisition. It is something that you have to take care of and you may not want to commit to that. It doesn't matter if it is property or stocks, it is still something you have to monitor.
Which business process area encompasses the tracking of real property?
property, plant and equipment
If plant equipment is attached to leased property must the depreciable life of the equipment coincide with lease terms?
If the equipment was attached in such a manner that it could not be removed, you would depreciate it over the term of the lease or shorter.
What is government furnished equipment?
There are two components to this. 1. The Federal Acquisition Regulation at 45.101 gives you the definition of Equipment: A tangible item that is functionally complete for its intended purpose, durable, nonexpendable, and needed for performance of a contract. Equipment is not intended for sale, and does not ordinarily lose its identity or become a component part of another article when put into use. Equipment does not include material, real property, special test equipment or special tooling. 2. The Federal Acquisition Regulation at FAR 45.101 gives you the definition of Government Furnished Property: Property in the possession of, or directly acquired by, the Government and subsequently furnished to the contractor for performance of a contract. Government furnished property includes, but is not limited to, spares and property furnished for repair, maintenance, overhaul, or modification. Government-furnished property also includes contractor acquired property if the contractor-acquired property is a deliverable under a cost contract when accepted by the Government for continued use under the contract.
What is property acquisition?
Generally, property acquisition refers to a person or other entity acquiring title to real property by a deed. A deed is the legal instrument used to transfer ownership in real estate. Real property can also be acquired by inheritance and by a court order.
What is an acquist?
An acquist is an instance of acquisition or of gain of property or possessions.
Which Accounting standard governs treatment of property and equipment?
IAS - 16 Property, Plant and Equipment deals with matters governing of property and equipment.
How do you obtain property by aquisition?
Acquisition is the act of procuring something. Generally, real property is acquired by virtue of an acquisition deed. However, acquisition of real property can occur by other means such as foreclosure, taking, court order and inheritance.
What is an "acquisition"?
The act or process by which a person obtains ownership of or an interest in property.
Is property and equipment credit or debit?
property and equipment should be debited if they increases because both are assets
What is title acquisition?
Title acquisition refers to the process of obtaining legal ownership or rights to a property or asset. This typically involves transferring the title from one party to another through a sale, inheritance, or other legal means. It is essential for establishing ownership and protecting property rights.
What are synonyms for acquisition?
purchase, buy, investment, property, gain, asset, prize, possession
How does Illinois senate bill 1739 relate to property law in economics?
The law law states the acquisition of property can be declared to be for public use which is one of the property law in economics.
Disadvantages of acquisition?
There really aren't that many disadvantages of acquisition. It is something that you have to take care of and you may not want to commit to that. It doesn't matter if it is property or stocks, it is still something you have to monitor.
Equipment Insurance?
form_title=Equipment Insurance form_header=Be certain that the equipment you need to run your business is well insured. Get equipped with the proper equipment insurance today. Type pf Equipment/Vehicle to be Insured:=_ Cost/Value of Equipment:=_ Type of Insurance Needed:= {(),Property,Liability,Property and Liability}
