Select the account to which each of the following costs would be debited. (Choices may be used more than once.)
-costs incurred prior to using the asset,such as installation and other costs to prepare the asset for use

Question

Quizplus · Accepted Answer

Costs incurred prior to using the asset, such as installation and other costs to prepare the asset for use, are capitalized as part of the asset's cost. This is considered a capital expenditure because it extends the useful life of the asset or improves its functionality.

Select the Account to Which Each of the Following Costs