Sgfgs

10/9/13

Quiz 8

1

Classify each of the following as: New landscaping Resurfacing a pool in an apartment building Adding freon to an air conditioning system Extraordinary Repairs Asset Improvements Ordinary Maintenance and Repairs

Partially correct Mark 0.27 out of 0.80 Flag question

The correct answer is: New landscaping – Asset Improvements, Resurfacing a pool in an apartment building – Extraordinary Repairs, Adding freon to an air conditioning system – Ordinary Maintenance and Repairs.

Question

2

Classify each of the following costs associated with long-lived assets as one of the following: Machinery and Equipment

Partially correct Mark 0.30 out of 0.60 Flag question

Cost of installing new equipment Cost of grading and leveling land to be used for a new business site

Land Improvements

The correct answer is: Cost of installing new equipment – Machinery and Equipment, Cost of grading and leveling land to be used for a new business site – Land.

Question Correct

3

Which of the following is included in the cost of constructing a building? Select one: a. insurance costs during construction b. cost of paving parking lot c. cost of repairing vandalism damage during construction d. cost of removing the demolished building existing on the land when it was purchased The correct answer is: insurance costs during construction.

Mark 0.30 out of 0.30 Flag question

Question Correct

4

A capital expenditure results in a debit to Select one: a. an expense account b. a capital account c. a liability account d. an asset account The correct answer is: an asset account.

Mark 0.30 out of 0.30 Flag question

moodle.bcconline.us/mod/quiz/review.php?attempt=2528&showall=1

1/9

10/9/13

Question Correct Mark 0.90 out of 0.90 Flag question

Quiz 8

5

Which of the following below is an example of a capital expenditure? Select one: a. cleaning the carpet in the front room b. tune-up for a company truck c. replacing...