Podcast
Questions and Answers
An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future ______.
An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future ______.
Assets are reported on a company's ______ sheet.
Assets are reported on a company's ______ sheet.
They are bought or created to increase a firm's value or benefit the firm's ______.
They are bought or created to increase a firm's value or benefit the firm's ______.
An asset can be thought of as something that, in the future, can generate cash flow, reduce expenses, or improve ______, regardless of whether it's manufacturing equipment or a patent.
An asset can be thought of as something that, in the future, can generate cash flow, reduce expenses, or improve ______, regardless of whether it's manufacturing equipment or a patent.
Assets can be classified as current, fixed, financial, or ______.
Assets can be classified as current, fixed, financial, or ______.
Current assets are short-term economic resources that are expected to be converted into ______ or consumed within one year.
Current assets are short-term economic resources that are expected to be converted into ______ or consumed within one year.
Fixed assets are resources with an expected life of greater than a ______, such as plants, equipment, and buildings.
Fixed assets are resources with an expected life of greater than a ______, such as plants, equipment, and buildings.
Financial assets represent investments in the assets and securities of other ______.
Financial assets represent investments in the assets and securities of other ______.
Historical cost represents the original cost of the asset when purchased by a ______.
Historical cost represents the original cost of the asset when purchased by a ______.
Depreciation allocates the cost of the asset over ______.
Depreciation allocates the cost of the asset over ______.
