If a Second-Hand Machine Is Purchased for Operational Use in a Business

question 86

True/False

If a second-hand machine is purchased for operational use in a business, all renovation and repair costs on the used machine incurred by the purchaser prior to its operational use should be excluded from the cost of the asset.

---

Definitions:

Symbolic Play

A type of play in which children use objects, actions, or ideas to represent other objects, actions, or ideas, playing a crucial role in language and cognitive development.

Compensation

A mental operation in which a child realizes that changes in one aspect of a problem are compared with and compensated for by changes in another aspect.

Conservation of Number

A cognitive ability, identified by Piaget, that allows a child to understand that the quantity of an item remains the same despite changes in its shape or arrangement.