When a firm constructs its own buildings or equipment:
a. it recognizes the labor, material, and overhead costs incurred as an asset.
b. U.S. GAAP and IFRS require firms to include, or capitalize, interest costs during construction in the cost of a self-constructed asset.
c. it recognizes the labor, material, and overhead costs incurred as a period expense.
d. U.S. GAAP and IFRS require firms to expense interest costs incurred during construction of a self-constructed asset.
e. both choices a and b are correct.
E
You might also like to view...
India's Tata Motors launched the Nano, a radical new design with a rock-bottom sticker price of $2,500
Indicate whether the statement is true or false
An employee earns $5950 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 of earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7000 of an employee's pay. The employee has $200 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $168 and contributes $84 to a retirement plan each month. What is the amount the employer should record as payroll taxes expense for the employee for the month of January?
A. $499.18 B. $455.18 C. $664.18 D. $812.18 E. $902.93
________ is a test statistic that measures the association between two ordinal-level variables. It does not make an adjustment for ties
A) Tau b B) Symmetric lambda C) Tau c D) Gamma
All of the following would impact your decision about when to buy an offering EXCEPT:
A. you don't have the money now and don't get paid until Friday. B. the store is closing in 10 minutes. C. the product is on sale. D. the retailer's return policy is very relaxed. E. the manufacturer is currently offering a $25 rebate.