If a New Cost Is Incurred Related to an Asset

question 53

True/False

If a new cost is incurred related to an asset that is considered to enhance that, either by extending the useful life or increasing the efficiency, the fixed asset accountant must make sure the appropriate adjustments are made to the fixed asset subsidiary ledger.

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Definitions:

Epiglottis

A flap of cartilage located at the root of the tongue, which is depressed during swallowing to cover the opening of the windpipe.

Thyroid Cartilage

The largest cartilage of the larynx, forming the Adam's apple, which protects the vocal cords.

Cricoid Cartilage

A ring-like structure located at the top of the trachea below the thyroid cartilage, providing support and structure to the airway.

Arytenoid Cartilage

A pair of small three-sided pyramids found in the larynx that play a key role in vocal cord movement and voice production.