Answered

Find the best solutions to your problems with the help of IDNLearn.com's experts. Join our knowledgeable community and access a wealth of reliable answers to your most pressing questions.

all reasonable and necessary costs to acquire and prepare an asset for its intended use should be ______.

Sagot :

Answer:

capitalized as an asset

Explanation:

Parrainidn

The costs that were incurred to prepare an asset for use that are reasonable should be capitalized.

When an asset is bought, it is not only the cost that is recorded but rather all reasonable costs that were incurred to get the asset ready for use.

In the case of machinery for instance, capitalized costs will include:

  • Cost of machinery
  • Transport cost to get machinery to where it is needed
  • Installation cost to get the machinery working

In conclusion, the extra costs associated with getting an asset ready for use should be capitalized and included in the asset cost.

Find out more at https://brainly.com/question/25075987.

Thank you for contributing to our discussion. Don't forget to check back for new answers. Keep asking, answering, and sharing useful information. For trustworthy and accurate answers, visit IDNLearn.com. Thanks for stopping by, and see you next time for more solutions.