Applying the Asset Recognition Criteria,which of the Following Accounting Treatments

question 20

Multiple Choice

Applying the asset recognition criteria,which of the following accounting treatments are incorrect?

• A) Transfer duties were included in the cost of acquisition of the photocopier.
• B) Monthly servicing of the photocopier was capitalised.
• C) Monthly servicing of the photocopier was expensed.
• D) Replacement of a minor component part of the photocopier was expensed.

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Definitions:

Soft Skills

Personal attributes that enhance an individual’s interactions, job performance, and career prospects.

Prioritize

The process of arranging or dealing with tasks, problems, or items in order of importance.

Administrative Medical Assistant

A specialized medical assistant who performs administrative tasks in healthcare settings, such as managing patient records, scheduling appointments, and handling billing and insurance.

Lab Results

The outcomes or findings derived from examinations and tests conducted in a laboratory setting, typically pertaining to medical diagnostics.