Which Question Must Be Considered at the Initial Recognition of Property

question 101

Multiple Choice

Which question must be considered at the initial recognition of property, plant and equipment?

• A)How the costs that have been capitalized should be categorized or classified in the balance sheet?
• B)Whether the historical cost or fair value model should be used?
• C)Whether the straight-line or double-declining balance method should be used?
• D)How the property, plant and equipment should be tested for impairment?

---

Definitions:

National Defense

The protection and defense of a nation's sovereignty, territorial integrity, and interests, through the use of military and defense strategies.

Postal Service

A government or private sector service responsible for the collection, transport, and delivery of mail and packages.

State Spending

The amount of money a government spends on public services and goods, including education, healthcare, and infrastructure.

Education

The process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various means.