Which of the Following Should Be Included in the Cost

question 31

Multiple Choice

Which of the following should be included in the cost of equipment?

• A)Platform for the equipment
• B)Employee training costs for the use of the new equipment
• C)Testing costs to see if the equipment is working properly
• D)All of the above

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Definitions:

Record Payment

The process of documenting the payment of a bill or an obligation in the business’s financial records.

Revenue Journal

The revenue journal is a ledger book or digital record in accounting that tracks all incoming earnings or revenue transactions generated by business operations.

Cash Receipts Journal

A specific accounting journal used to record all receipts of cash during a particular period.

Sale On Account

A transaction where goods are sold and payment is deferred to a later date, creating an account receivable for the seller.