Discuss the Type of Tangible Long-Lived Assets Canadian Tire Owns

question 115

Essay

Discuss the type of tangible long-lived assets Canadian Tire owns and controls,and how they are typically recorded on the balance sheet.

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Definitions:

Estimated Value

An approximation of the monetary worth of an asset, liability, or a business, determined through analysis or professional judgment.

Fixed Asset

Long-term tangible property owned by a business, used in its operations and not expected to be consumed or converted into cash in the short term.

Acquisition Cost

The total cost incurred to acquire an asset, including the purchase price and all other expenses necessary to bring the asset to its intended use.

Equipment

Tangible assets used in the operation of a business, such as machinery, computers, and furniture, which are not intended for sale.