When Calculating the Dollar Amount of Fixed Assets Purchased During

question 29

Multiple Choice

When calculating the dollar amount of fixed assets purchased during the year what information is required? Assume that no fixed assets were disposed of during the year.

• A) the current and prior year's gross fixed assets
• B) the current and prior year's net fixed assets
• C) the current and prior year's net fixed assets plus the firm's depreciation expense for the year.
• D) either a or c will suffice