Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

The "carrying amount" of an item of property, plant and equipment generally refers to:

a. The cost of the item b. The replacement cost of the item c. The appreciable amount of the item d. The amount at which the item is recognized in the financial statements

user-image
Question added by Deleted user
Date Posted: 2013/08/28
Aziz ur Rehman ur Rehman
by Aziz ur Rehman ur Rehman , Assistant Manager Finance , Central Power Puchasing Agency (CPPA)

a-cost of an item refer the cost which you paid at the time of buying  b-this cost represent when replacing an exiting assets with new one c-ireelvant to the question d-here you are right-  correct option   

Deleted user
by Deleted user

Option d

Yougourta MAIBECHE
by Yougourta MAIBECHE , Mechanical completion Engineer , Maire Tecnimont

d. The amount at which the item is recognized in the financial statement

Ali Zia
by Ali Zia , Group Chief Financial Officer , Cresset Strategic Partners Pvt Limited

d. 

Prince Ninan
by Prince Ninan , Audit Executive , Lewis & Pecker

d

Sanoop Kumar V G
by Sanoop Kumar V G , financial controller , Africana Discount Hypermarket

1.If any maintenance of existing item ,it should come under expenses 2.If new asset transportation charges to the company from the supplier, we can add with the asset value