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A business will maintain a non-current asset register to keep a record of all non-current assets held.
Which THREE of the following are examples of information contained within the register?
Suggested Answer: A, B, E
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14 comments · newest first
LU
Lucille
10 months ago
Purchase date is a must-have for tracking!
CA
Carin
10 months ago
Wait, do they really keep insurance cost details? Seems odd.
DE
Dell
10 months ago
Cost of asset is definitely in there.
LE
Lenny
11 months ago
Totally agree, useful economic life is key info too!
TI
Tijuana
11 months ago
Maintenance cost details? Not sure if that's standard practice.
VI
Virgina
11 months ago
The purchase date seems like a basic piece of information that should be included, but I can't recall if the proposed date of sale is standard practice.
LU
Lucina
11 months ago
I feel like insurance cost details might not be part of the non-current asset register, but it could be relevant for overall asset management.
NU
Nu
12 months ago
I remember we discussed useful economic life in class, so I feel confident that’s one of the answers.
MY
My
12 months ago
I think the cost of the asset is definitely included in the register, but I'm not sure about the maintenance costs.
KI
King
12 months ago
I'm a bit confused about the "proposed date of sale" option. I'm not sure if that would typically be included in a non-current asset register, since it's more of a future plan rather than a current record of the asset.
TA
Tarra
1 year ago
I think the insurance cost details and maintenance cost details would also be good options to include in the non-current asset register. I'll make sure to select those as well.
ER
Erick
1 year ago
Okay, let's see. The cost of the asset, the useful economic life, and the purchase date seem like obvious choices. I'll start with those and see if I can find two more.
VA
Vannessa
1 year ago
Hmm, I'm not entirely sure about this one. I'll need to carefully review the options and think through what kind of details a non-current asset register would typically include.
JU
Judy
1 year ago
This seems pretty straightforward. The key is to identify the three examples of information contained in the non-current asset register.