the purchase price and all costs to bring an asset to its desired condition and location for use should be (fill the blank)

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23-11-2022
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the purchase price and all costs to bring an asset to its desired condition and location for use should be (fill the blank)

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sapanpandit sapanpandit · Answer 1 · 2022-11-28T22:51:23+01:00

The purchase price and all costs to bring an asset to its desired condition and location for use should be capitalized.

A purchase is transformed into an asset on the balance sheet when it is capitalized. The bigger the amount of costs that are capitalized as opposed to expensed, the higher the profit that may be disclosed to shareholders. Can you perhaps capitalize each word, then? A firm must possess or control an asset with future demonstrable economic value in order to capitalize a transaction. Your purchase cannot be capitalized if it doesn't fall inside those restrictions.

Inappropriate cost capitalization can mislead investors into thinking a company's profit margins are higher than they actually are.

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Complete Question:

The purchase price and all costs to bring an asset to its desired condition and location for use should be ______.

Multiple choice question.

capitalized

expensed

accrued