What is your primary attraction to each group? Are your individual goals compatible with the group’s
January 31, 2026Assignment Cultural Competence and Linguistics in Health Care “Looking for Robert Only”
January 31, 2026Week 1 quiz 1 . Question : (TCO 1) The acquisition costs of property, plant, and equipment do not…
Week 1 quiz
1. Question :
(TCO 1) The acquisition costs of property, plant, and equipment do not include
the ordinary and necessary costs to bring the asset to its desired condition and location for use.
the net invoice price.
legal fees, delivery charges, installation, and any applicable sales tax.
maintenance costs during the first 30 days of use.
Question 2. Question :
(TCO 1) Cantor Corporation acquired a manufacturing facility on four acres of land for a lump-sum price of $8,000,000. The building included used but functional equipment. According to independent appraisals, the fair values were $4,500,000, $3,000,000, and $2,500,000 for the building, land, and equipment, respectively. The initial values of the building, land, and equipment would be which of the following?
Building
Land
Fixtures
a.
$ 4,500,000
$ 3,000,000
$ 2,500,000
b.
$ 4,500,000
$ 3,000,000
$ 500,000
c.
$ 3,600,000
$ 2,400,000
$ 2,000,000
d.
None of the above
Option a
Option b
Option c
Option d
Question 3. Question :
(TCO 3) The basic principle used to value an asset acquired in a nonmonetary exchange is to value it at
fair value of the asset(s) given up.
the book value of the asset given plus any cash or other monetary consideration received.
fair value or book value, whichever is smaller.
the book value of the asset given.
Question 4. Question :
(TCO 1) Interest is eligible to be capitalized as part of an asset's cost, rather than being expensed immediately, when
the interest is incurred during the construction period of the asset.
the asset is a discrete construction project for sale or lease.
the asset is self-constructed, rather than acquired.
All of the above
Question 5. Question :
(TCO 3) Horton Stores exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and $100,000, respectively. Assuming that the exchange has commercial substance, Horton would record land-new at and record a gain/(loss) of
Land Gain(Loss)
a. $105,000. $0
b. $105,000. $10,000
c. $95,000 $0
d. $95,000 $10,000
Option a
Option b
Option c
Option d