FACC| Latest Study Guide |Final Exam With Verified Answers A+ Graded 2024
FACC| Latest Study Guide |Final Exam With Verified Answers A+ Graded 2024 Capitalize - correct answer record an expenditure as an asset Capital expenditures - correct answer spending to purchase long lived tangible assets How to compute straight line depreciation (per 1 year) - correct answer depreciation expense = (cost - residual value) x 1/useful life Land is not depreciated Record year 2 depreciation - correct answer debit: depreciation expense Credit: accumulated depreciation Income statement for assets & depreciation expenses - correct answer just amortization expense (add depreciations) Income statements for assets and their depreciation - correct answer list assets purchase cost Accumulated amortization: added depreciations
Written for
- Institution
- FAC-C - Federal Acquisition Certification in Contracting
- Course
- FAC-C - Federal Acquisition Certification in Contracting
Document information
- Uploaded on
- November 10, 2024
- Number of pages
- 10
- Written in
- 2024/2025
- Type
- Exam (elaborations)
- Contains
- Questions & answers
Subjects
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capital
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capital expenditures
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record year 2 depreci
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fac c federal acquisition certification in contr
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facc latest study guide final exam with verified
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how to compute straight line depreciation per 1 y
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