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What is a variable asset?
the asset value which changes with respect to the demand constraints is called varible asset
The difference between the cost of an asset and the accumulated depreciation for that asset is called?
Book Value is the difference between the cost of an asset and the accumulated depreciation of that asset.
When an asset is sold a gain occurs when the?
Gain on sale of asset is occured when actual value of asset is less then the sale value of asset.
What is a a decaying asset?
A decaying asset is an asset that loses value over time due to factors such as wear and tear, obsolescence, or changes in market demand. Common examples include machinery, vehicles, and technology, which may become less functional or outdated. This depreciation can affect the asset's resale value and overall financial performance. In accounting, decaying assets are often subject to systematic depreciation over their useful life.
What is impairment cost?
When assets are recorded a company's balance sheet, they are valued at historical cost (what was paid for the asset), less any accumulated depreciation or amortization if applicable. This holds true even if the market value of the asset is considerably more than what the company paid for it. However, if the market value of a company's assets drops significantly below the asset's historical cost, then it sometimes becomes necessary to revalue the asset at the lower market value. This revaluation is called impairment. When it is appropriate to impair an asset depends on the type of asset in question. The difference between the current book value of the asset, and the value of the asset after impairment, is your impairment expense (cost).
What is a variable asset?
the asset value which changes with respect to the demand constraints is called varible asset
The difference between the cost of an asset and the accumulated depreciation for that asset is called?
Book Value is the difference between the cost of an asset and the accumulated depreciation of that asset.
What is it called when money loses its value and business raise prices?
inflation
The book value of an asset is the same as market value of the asset?
Book value of an asset is the value which is shown in books of accounts while market value of asset is the value which is currently same asset is selling in market so both of these values are not same but it can be same but normally they are not same.
When an asset is sold a gain occurs when the?
Gain on sale of asset is occured when actual value of asset is less then the sale value of asset.
What is a a decaying asset?
A decaying asset is an asset that loses value over time due to factors such as wear and tear, obsolescence, or changes in market demand. Common examples include machinery, vehicles, and technology, which may become less functional or outdated. This depreciation can affect the asset's resale value and overall financial performance. In accounting, decaying assets are often subject to systematic depreciation over their useful life.
What does it mean to fall in monetary value?
To fall in monetary value means that the worth of an asset, currency, or investment decreases over time. This decline can result from various factors, including economic downturns, changes in market demand, or inflation. When an asset loses value, it may lead to financial losses for investors and can impact broader economic conditions. Essentially, it reflects a reduced purchasing power or market confidence in that asset.
How to find the salvage value of an asset?
To find the salvage value of an asset, subtract the estimated disposal costs from the asset's current market value. This value represents the amount the asset is expected to be worth at the end of its useful life.
What is impairment cost?
When assets are recorded a company's balance sheet, they are valued at historical cost (what was paid for the asset), less any accumulated depreciation or amortization if applicable. This holds true even if the market value of the asset is considerably more than what the company paid for it. However, if the market value of a company's assets drops significantly below the asset's historical cost, then it sometimes becomes necessary to revalue the asset at the lower market value. This revaluation is called impairment. When it is appropriate to impair an asset depends on the type of asset in question. The difference between the current book value of the asset, and the value of the asset after impairment, is your impairment expense (cost).
What is the estimated salvage value of a fixed asset?
1. Estimated salvage value is the amount which is expected to be received from disposal of fully depreciated asset after useful life of asset.
Anything of value owned by the business?
Anything of value that is owned by a business is called an asset. This includes property, equipment, stock, or bonds.
Is there any difference between absolete asset and assets at written down value?
Obsolete asset is that asset which suddenly becomes obsolete due to any technological change or any reason and has no value while written down asset is asset which is usable asset with written down value
