Which of the following is not a requirement for an asset to be depreciable? (a) It must have a life longer than 1 year. (b) It must have a basis (initial purchase plus installation cost) greater than $1,000. (c) It must be held with the intent to produce income. (d) It must wear out or get used up.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which of the following is not a requirement for an asset to be depreciable? (a) It must have a life longer than 1 year. (b) It must have a ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Orange Corporation has budgeted sales of 23 comma 000 units, targeted ending finished goods inventory of 4 comma 000 units, and beginning finished goods inventory of 5 comma 000 units. How many units should be produced next year?
Answers (1)
Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.03 hour. During the month of April, 900,000 bottles were produced using 25,200 labor hours @ $15.00. The standard wage rate is $13.50 per hour.
Answers (1)
Winston Company estimates that the factory overhead for the following year will be $544,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 27,200 hours.
Answers (1)
Flem is an employee of Goods, Inc. Flem reports to state officials that Goods, Inc. is illegally dumping waste into a river that runs behind its factory. When Goods, Inc. learns of Flem's report, Goods Inc. fires him. He sues Goods, Inc.
Answers (1)
What is one way decreased funding affects pre-kindergarten programs
Answers (1)
New Questions in Business
Mace and Bowen are partners and share equally in income or loss. Mace's current capital balance is $135,000 and Bowen's is $120,000. Mace and Bowen agree to accept Kent with a 30% interest in the partnership. Kent invests $115,000 in the partnership.
Answers (1)
A large company produces paint and other home decorating products. Its goal is to choose the marketing channel arrangement that will give it the most control over supply sources. Which marketing channel system should this company choose?
Answers (1)
Wendy is a college student in her sophomore year. she is single with no kids, has vegetation paid for by scholarship. what type of life insurance does she need?
Answers (1)
Difference between a parttime and fulltime job
Answers (1)
On May 1, 2019, Mary Smith signed a $ 13 comma 000 promissory note with Continental Bank. The note is due in one year with 6 % interest. What journal entry should Continental Bank prepare on May 1, 2019?
Answers (1)