Which of the Following Are Criteria for Determining Whether to Record

question 175

Multiple Choice

Which of the following are criteria for determining whether to record an asset as a fixed asset?

• A) must be an investment and long-lived
• B) must be long-lived and used by the company in its normal operations
• C) must be short-lived and tangible
• D) must be tangible and an investment

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Definitions:

Farm Employment

Work or labor performed in agricultural sectors, including growing crops and raising livestock.

Total Employment

The total number of individuals currently employed in an economy, including both full-time and part-time workers.

Farm Productivity

The measure of output (usually in terms of yield or economic value) produced per unit of input (such as labor, land, or capital) in agricultural activities.

Nonfarm Sectors

Industries and activities not directly involved in agriculture, farming, or the raising of animals.