Acquisition Cost Includes All of the Costs That Are Normal

question 48

True/False

Acquisition cost includes all of the costs that are normal and necessary to acquire and maintain a plant asset over its useful life.

---

Definitions:

Consent

A voluntary agreement to another's proposal or to engage in a particular activity.

Duty Of Care

A legal obligation requiring individuals to exercise a standard of reasonable care while performing acts that could foreseeably harm others.

Unforeseeable Risks

Risks that cannot reasonably be anticipated or predicted, often affecting contracts or liability.

Reasonable Person Standard

A measurement of the way members of society expect an individual to act in a given situation.