Explore BrainMass

Explore BrainMass

    Non-Current Assets

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Subject: Non-Current Assets (asset definition / Asset valuation)

    Details: A group of metropolitan councils had for some years operated a very large rubbish tip. Unfortunately the tip was rapidly filling and the search was on for a new one.
    The councils favoured acquiring a yawning void of nearly 3 million cubic metres, which was formerly a quarry. They offered $1 a cubic metre to lease the quarry site.
    A newspaper columnist noted that this sounded like something for nothing. However, to some experts in private enterprise it sounded more like nothing for something. These enterprising operators secured the lease of the quarry by tendering $2.50 a cubic metre.
    (a) Explain how an asset can consist of 'nothing'.
    (b) What do the competing tenders indicate about the concept of asset valuation?

    © BrainMass Inc. brainmass.com June 7, 2023, 2:36 pm ad1c9bdddf

    Solution Preview

    Hi there,
    <br>Here are your answers:
    <br>a) This first question essentially deals with the issue of intangible assets. The official definition of an intangible asset is an asset that is not physical in ...

    Solution Summary

    This question involves the fundamentals of accounting


    Free BrainMass Quizzes

    • MS Word 2010-Tricky Features

      These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.

    • Organizational Behavior (OB)

      The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

    • Production and cost theory

      Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.

    • Team Development Strategies

      This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

    • SWOT

      This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

    View More Free Quizzes