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When you buy real estate for business purposes can the whole cost be depreciated over what time period?
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Why does a business need to be consistent in the fiscal period it uses for its financial reports?
A business needs to be consistent in the fiscal period it uses for financial reports for purposes of comparison and accuracy. If the fiscal period changes, then it is difficult to compare the business's performance across different periods.
why are items depreciated?
Items are only depreciated if there period of use extents one year. For example a computer will lest normally around 3 years in business. If you buy it in year one and take the costs in that year it will unfairly affect your profit for that year. By depriciating it over the life-span the firm's profit is reflected in a smoother way.
What differentiates an estate for years from an estate from period-to-period is that estate for years?
And Estate for years would run for a specific time period and is not automatically renewed, where as, an Estate from period to period runs for an indefinite number of periods (Which are usually in 30-day segments).
Which best describes the 12-month period used by a government or business for purposes of financial management?
Fiscal year
Which best describes the 12 month period used by a government or business for purposes of financial management?
The fiscal or tax year.
Can you capitalise electricity connection charges?
Yes, the correct term is "Electricity Connection Charges."
Is depreciation of administrative equipment product cost or period cost?
Depreciation of administrative equipment is period cost because if production is done or not those assets will be depreciated hence cost will be charged as period cost.
When an asset is fully depreciated should the total accumulated depreciation for that asset be zeroed out?
After an asset is fully depreciated, the assets and accumulated depreciation accounts are zerod together in the beginning of the next accounting period. When an asset is fully depreciated but still operates in the company, accountants usually leave the asset and its accumulated depreciation accounts in the records even after it's fully depreciated and even through next periods, just to show that this asset still exists and operates.
Any driver under the age of 18 who accumulates or more points within a 12 month period is automatically restricted for one year to driving for Business Purposes ONLY?
6
What historical antecedent is there to corporate finance in America?
"before the end of the colonial period a considerable number of truly private corporations had been established for ecclesiastical, education, charitable, and even business purposes"
Three main purposes of writings in the early American period?
No
What is the value of a 10 year old whirlpool refrigerator?
$0. Appliances are usually depreciated over a five-year period, so after five years, they're effectively worth nothing.
