The failure to capitalise a permanent asset, or the recording of an asset acquisition at the improper amount, affects the balance sheet:
A) for the current period.
B) forever.
C) for the depreciable life of the asset.
D) until the firm disposes of the asset.

Question

Quizplus · Accepted Answer

The Answer of The failure to capitalise a permanent asset, or the recording of an asset acquisition at the improper amount, affects the balance sheet:
A) for the current period.
B) forever.
C) for the depreciable life of the asset.
D) until the firm disposes of the asset.

The Failure to Capitalise a Permanent Asset, or the Recording