Contrast the economic resources measurement focus and the current financial resources measurement focus with regard to the accounting treatment of capital assets.
What will be an ideal response?
Under the economic resources measurement focus, capital assets are capitalized and depreciated. Under the current financial resources measurement focus, capital assets are not capitalized or depreciated, but are charged to expenditures when received.
You might also like to view...
Cubicle office layouts ______.
A. promote communication B. are enclosed by walls C. are popular in manufacturing plants D. are popular in job shops
The economy of Sutanvia is under severe financial distress. However, over the last few months, the economy has gradually picked up, and employment levels are slowly rising back to normal levels. Consumers are also beginning to engage in regular buying activities. In this scenario, the economy of Sutanvia is currently in the _____ phase of its business cycle.
A. recovery B. relapse C. expansion D. contraction
The First Amendment does not protect corporate political speech.
Answer the following statement true (T) or false (F)
A person who did not necessarily commit the crime, can still be held criminally responsible for acts committed by others:
a. only when the crime committed is a white-collar crime. b. only for crimes committed outside the United States. c. only when the person who actually committed the crime is a supervisor. d. when the person is an employer with responsibility over the act of his/her employee, who committed the act.