Question

2. An example of fixed asset is
a. Live stock
b. Value stock
c. Income stock
d. All of the above​

Answer 1

Answer:

I think d..................

Answer 2

An example of a fixed asset is a. Live stock.

Livestock:

• Cattle, hogs, horses, poultry, and sheep, as well as small animals bred and raised by an agricultural producer, are examples of livestock.
• A farm may raise livestock for the purpose of selling it. Domesticated animals are generally excluded from the concept.

Accounting for Livestock:

• When animals are available and being held for sale, the agricultural accountant can benefit the livestock based on the selling price less any approximate disposal costs.

This net realisable value option is only available if all of the following criteria are met:

• The animals have consistent and predictable market prices.
• The costs of disposal are minimal and predictable.
• The animals are ready for pick-up immediately.