ake Test: Exam 2-201820...xC h jsp/course assessment jid., 27907 18kcourse id:,
ID: 2515163 • Letter: A
Question
ake Test: Exam 2-201820...xC h jsp/course assessment jid., 27907 18kcourse id:, 57193 18content ide:,2094 C QSearc os/a Remaining Time: 55 minutes, 35 seconds. s Question Completion Status O d A change in circumstances, such as the legal environment or business climate that could affect the asset's value QUESTION 34 Which statement is true? O a The incomplete recording of asset disposals understates the asset balance Ob Management may be incentivized to over-recognize impairments on machinery when the company is doing really well because auditors will be more skeptic over the performance that is "too good to be true O C Management never over-accrue impairments on machinery because it reduces the balance of assets Od Management may be incentivized to over tecognize impairments on machinery when the company is doing really well to lower the subsequent depreciation expenses QUESTION 35 ? As natural resources are used up the client has to recognize which of the following types of expen O 3 Amortization expense Ob Depreciation expense Click Save and Submit to save and submit, Click Save All Answers to save all answers Save All Answ e ?Explanation / Answer
Option A) this option is incorrect because the assets disposal will not understate the balance impairnment of assets means the assets value will decline due to the accident or due to change in the technology of the machine so as per the impairnement of the assets many times company may be reduced there value of the aseets also It may reduced the balance of the machienary and depreciation will also reduces. Difference in the value of the machinary arise due to impairnment will reflect in revenue account of that period. As per the above option B & Option C are also incorrect. Option D is the correct Answer = Option D
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.