Is computer software always classified as an intangible asset?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
Computer software may be part of a tangible asset If it is ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
Question Posted:
Students also viewed these Accounting questions
-
Which of the following is not classified as an intangible asset a). Trademark b). Patent c). Goodwill d). Investment
-
Do firms capitalize stock issue costs as an intangible asset on the balance sheet? Explain. .
-
An intangible asset with an estimated useful life of 30 years was acquired on January 1, 2002, for $540,000. On January 1, 2012, a review was made of intangible assets and their expected service...
-
Suppose you have the following training set, and fit a logistic regression classifier : ho(x) = g(00+011+0x2) O O O Which of the following are true? Check all that apply. a) Adding polynomial...
-
Refer to the conditions of Exercise 19.28. In Exercise 19.28 A foreign automobile manufacturer is spending hundreds of millions of dollars to construct a large manufacturing plant (about 70 acres...
-
The elevation of a mountain above sea level at (x, y) is 3000e-(x2+2y2)/100 meters. The positive x-axis points east and the positive y-axis points north. A climber is directly above (10, 10). If the...
-
Would converting the dealership to online sales and selling to customers through a digital kiosk at the dealership be an effective way to resolve staffing issues?
-
This problem continues the Draper Consulting, Inc., situation from Problem 16-35 of Chapter 16. Draper Consulting uses a job order costing system in which each client is a different job. Draper...
-
Which option is NOT true regarding the discharged not final billed (DNFB) status? A. It is beneficial to take measures to decrease the number of patients with this status. B. It creates the need to...
-
Gruden Company produces golf discs which it normally sells to retailers for $7 each. The cost of manufacturing 20,000 golf discs is: Materials ...... $ 10,000 Labor ........ 30,000 Variable overhead...
-
Why is it necessary to allocate the overall cost of a basket purchase of assets to the individual assets in the basket?
-
What is an involuntary conversion?
-
What movement spawned an increase in company awareness of methods leading to improvement? Describe some of these methods.
-
explain how the media helps and hurts the terrorists. Then, explain how the media helps and hurts law enforcement.
-
Should criminal justice agencies maintain a social media presence? Should police departments have a dedicated social media unit? How have social media sites assisted law enforcement in fighting and...
-
When the equation 5.06x^(2)-3.40x-1.92=0 is solved, the two values of the unknown x are Submit Answer
-
You are reviewing a corporation's financial statements and observe that the income tax expense has two components a current portion and a deferred portion. Explain which component appears on the...
-
What will be printed? def mystery (letters): r = [ ] for i in range (len (letters)): r.append(letters [len (letters) - i - 1]) return r if name == main ch['a', 'b', 'c'] print (mystery (ch))
-
The domain of (x) = a x is (-, ), while the range is (0, ). Therefore because g(x) = log a x is the inverse of f, the domain of g is ________, while the range of g is ________.
-
Why do markets typically lead to an efficient outcome for buyers and sellers?
-
What is the accounts receivable turnover ratio, and what type of information does it provide?
-
What is the accounts receivable turnover ratio, and what type of information does it provide?
-
Where can authoritative iGAAP guidance be found related to cash and receivables?
-
Explain job costing, process costing, actual costing, and normal costing.
-
Which shares of preferred stock may increase the most if the value of the company's common stock appreciates?
-
If the ending inventory was erroneously understated, what would happen to COGS and the working capital ratio, respectively, in the same accounting period?
Study smarter with the SolutionInn App