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Questions -
Q1. What would be the best option to choose financing lease or operating lease for Machinery in the plant of a big textile firm which has more than 10 years of estimated life? And why?
Q2. For an intangible asset to be developed internally, what are the recognition criteria it would meet for it to be recognized as an intangible asset and what would be the expenditures that IFRS would recognize to be expensed?
Q3. What is a better option, capitalizing or expensing, for an asset of a lesser life than 5 years? And why?
Q4. Out of the three basic depreciation methods to calculate annual expense like Straight-line, accelerated, and unit-of-output methods, which one would be beneficial for a company to use on an asset worth of a high cost with less than 5 years of life on their financial statements? Use an illustration to support your answer.
Provide at least one college level paragraph. Examples would be helpful and appreciated, Thank you.
SITXFIN003 - Manage finances within a budget - What are two possible explanations for the deviations in food costs and beverage costs? Consider information
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