What are Property, Plant and Equipment (PPE) also called?

BACC 15 July PPE part 1

Quiz
•
Business
•
12th Grade
•
Medium
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Current assets
Intangible assets
Liquid assets
Fixed assets
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following costs should be included when determining the cost of PPE?
Uninsured theft
Import duties
Mistakes in installation
Vandalism
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of expenditures are known as capital expenditures for PPE?
Expenditures to enhance the value
Expenditures to increase operating efficiency, productive capacity or useful life
Expenditures to decrease useful life
Expenditures to repair or maintain assets
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the Straight-Line Method of depreciation, what is the formula to calculate annual depreciation?
Cost of PPE - Residual value / Useful Life
Cost of PPE + Residual value / Useful Life
Cost of PPE x Residual value / Useful Life
Cost of PPE / Useful Life
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How should companies record the disposal of PPE by sale?
Crediting the Asset account
Crediting Accumulated Depreciation
Debiting Accumulated Depreciation and crediting the Asset account
Debiting Cash account
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What occurs when the proceeds from the sale of PPE exceed the net book value?
Depreciation expense increases
No impact on financial statements
A loss on disposal occurs
A gain on disposal occurs
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which method of depreciation has a decreasing annual depreciation expense over the asset's useful life?
Reduction Balance Method
Straight-Line Method
Units of Production Method
Double-Declining Balance Method
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