ACC205 Week 3 – PowerPoint & Quiz: Chapter 6
This attempt took 4 minutes.
Question 1
1 / 1 pts
PPE is a catch all term used to accumulate costs for miscellaneous expense items in an organization.
True
Correct!
False
Question 2
1 / 1 pts
On the balance Sheet PPE items are usually listed from high cost to low cost.
True
False
Question 3
1 / 1 pts
The value of a capital purchase to be recorded on the books would be the sticker price of the item purchased.
True
False
Question 4
1 / 1 pts
Purchasing small hand tools for the maintenance department would be an example of a capital purchase because they can be used for more than one accounting period.
True
False
Question 5
1 / 1 pts
Depreciation is a method used for a firm to calculate the FMV of an asset.
True
False
Quiz Score: 5 out of 5
ACC205 Week 3 – PowerPoint & Quiz: Chapter 6 Answer
