Page
Page
Page111ofofof25810/5/2026,
25810/5/2026,
25810/5/2026,5:02:10
5:02:10
5:02:10AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
Fundamental Accounting Principles Volume II 17th Edition
by Larson Ch09
Version 1
1
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1)
Property, plant and equipment are assets held for sale.
⊚
true
⊚
false
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Topic : 09-01 Property, Plant, and Equipment (PPE)
Bloom's : Remember
Difficulty : Easy
2)
Non-current assets can be divided into two groups including tangible and intangible
assets. These assets are generally used in operations of a business and have useful lives
extending over more than one accounting period.
⊚
true
⊚
false
a48a92898_tb9781260881332_test_bankPage
Page
1Page
1 of1 25810/5/2026,
of 25810/5/2026,
5:02:10
5:02:10
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
1 of 25810/5/2026, 5:02:10 AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260
, Page
Page
Page222ofofof25810/5/2026,
25810/5/2026,
25810/5/2026,5:02:10
5:02:10
5:02:10AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Topic : 09-01 Property, Plant, and Equipment (PPE)
Bloom's : Remember
Difficulty : Medium
3)
Land purchased as a building site is a tangible asset called property, plant and equipment
and is classified under the "Long-term Investments" section on the balance sheet.
⊚
true
⊚
false
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Bloom's : Remember
Topic : 09-06 Land
Difficulty : Hard
DOWNLOAD THE Test Bank for Fundamental Accounting Principles Volume 2
17th Edition Larson
nursytestbank.store
Fundamental Accounting Principles Volume II 17th Edition
by Larson Ch09
Version 1
a48a92898_tb9781260881332_test_bankPage
Page
2Page
2 of2 25810/5/2026,
of 25810/5/2026,
5:02:10
5:02:10
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
2 of 25810/5/2026, 5:02:10 AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260
, Page
Page
Page333ofofof25810/5/2026,
25810/5/2026,
25810/5/2026,5:02:10
5:02:10
5:02:10AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
2
4)
The cost of an asset includes all normal and reasonable expenditures necessary to get the
asset in place and ready for its intended use.
⊚
true
⊚
false
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Bloom's : Remember
Difficulty : Easy
Topic : 09-02 Cost of PPE
5)
If a machine is damaged during unpacking, the repairs are added to its cost.
⊚
true
⊚
false
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Bloom's : Remember
Difficulty : Easy
Topic : 09-02 Cost of PPE
6)
To be charged to and reported as part of the cost of property, plant and equipment, an
expenditure must be normal, reasonable, and necessary in preparing the asset for its
a48a92898_tb9781260881332_test_bankPage
Page
3Page
3 of3 25810/5/2026,
of 25810/5/2026,
5:02:10
5:02:10
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
3 of 25810/5/2026, 5:02:10 AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260
, Page
Page
Page444ofofof25810/5/2026,
25810/5/2026,
25810/5/2026,5:02:10
5:02:10
5:02:10AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
intended use.
⊚
true
⊚
false
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Bloom's : Remember
Difficulty : Medium
Topic : 09-02 Cost of PPE
7)
The purchase of real estate that includes land, building, and land improvements is called a
lump-sum purchase.
DOWNLOAD THE Test Bank for Fundamental Accounting Principles Volume 2
17th Edition Larson
nursytestbank.store
Fundamental Accounting Principles Volume II 17th Edition
by Larson Ch09
Version 1
3
⊚
true
⊚
false
a48a92898_tb9781260881332_test_bankPage
Page
4Page
4 of4 25810/5/2026,
of 25810/5/2026,
5:02:10
5:02:10
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
4 of 25810/5/2026, 5:02:10 AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260
Page
Page111ofofof25810/5/2026,
25810/5/2026,
25810/5/2026,5:02:10
5:02:10
5:02:10AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
Fundamental Accounting Principles Volume II 17th Edition
by Larson Ch09
Version 1
1
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1)
Property, plant and equipment are assets held for sale.
⊚
true
⊚
false
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Topic : 09-01 Property, Plant, and Equipment (PPE)
Bloom's : Remember
Difficulty : Easy
2)
Non-current assets can be divided into two groups including tangible and intangible
assets. These assets are generally used in operations of a business and have useful lives
extending over more than one accounting period.
⊚
true
⊚
false
a48a92898_tb9781260881332_test_bankPage
Page
1Page
1 of1 25810/5/2026,
of 25810/5/2026,
5:02:10
5:02:10
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
1 of 25810/5/2026, 5:02:10 AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260
, Page
Page
Page222ofofof25810/5/2026,
25810/5/2026,
25810/5/2026,5:02:10
5:02:10
5:02:10AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Topic : 09-01 Property, Plant, and Equipment (PPE)
Bloom's : Remember
Difficulty : Medium
3)
Land purchased as a building site is a tangible asset called property, plant and equipment
and is classified under the "Long-term Investments" section on the balance sheet.
⊚
true
⊚
false
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Bloom's : Remember
Topic : 09-06 Land
Difficulty : Hard
DOWNLOAD THE Test Bank for Fundamental Accounting Principles Volume 2
17th Edition Larson
nursytestbank.store
Fundamental Accounting Principles Volume II 17th Edition
by Larson Ch09
Version 1
a48a92898_tb9781260881332_test_bankPage
Page
2Page
2 of2 25810/5/2026,
of 25810/5/2026,
5:02:10
5:02:10
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
2 of 25810/5/2026, 5:02:10 AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260
, Page
Page
Page333ofofof25810/5/2026,
25810/5/2026,
25810/5/2026,5:02:10
5:02:10
5:02:10AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
2
4)
The cost of an asset includes all normal and reasonable expenditures necessary to get the
asset in place and ready for its intended use.
⊚
true
⊚
false
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Bloom's : Remember
Difficulty : Easy
Topic : 09-02 Cost of PPE
5)
If a machine is damaged during unpacking, the repairs are added to its cost.
⊚
true
⊚
false
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Bloom's : Remember
Difficulty : Easy
Topic : 09-02 Cost of PPE
6)
To be charged to and reported as part of the cost of property, plant and equipment, an
expenditure must be normal, reasonable, and necessary in preparing the asset for its
a48a92898_tb9781260881332_test_bankPage
Page
3Page
3 of3 25810/5/2026,
of 25810/5/2026,
5:02:10
5:02:10
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
3 of 25810/5/2026, 5:02:10 AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260
, Page
Page
Page444ofofof25810/5/2026,
25810/5/2026,
25810/5/2026,5:02:10
5:02:10
5:02:10AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
intended use.
⊚
true
⊚
false
Question Details
Accessibility : Keyboard Navigation
Learning Objective : 09-01 Describe property, plant, and equipment (PPE) and calculate
their cost.
Bloom's : Remember
Difficulty : Medium
Topic : 09-02 Cost of PPE
7)
The purchase of real estate that includes land, building, and land improvements is called a
lump-sum purchase.
DOWNLOAD THE Test Bank for Fundamental Accounting Principles Volume 2
17th Edition Larson
nursytestbank.store
Fundamental Accounting Principles Volume II 17th Edition
by Larson Ch09
Version 1
3
⊚
true
⊚
false
a48a92898_tb9781260881332_test_bankPage
Page
4Page
4 of4 25810/5/2026,
of 25810/5/2026,
5:02:10
5:02:10
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260881332_test_bank.docx
4 of 25810/5/2026, 5:02:10 AM&@*&#^*^($(@*^$&*&(*^$$&$&*$^^&&@&*^$&^20231014142410_652aa48a92898_tb9781260
