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What original costs are involved in purchasing an asset and putting it into use?

Choose 2

A. Taxes paid while in stock
B. Taxes paid
C. Taxes paid at the time of purchase
D. Taxes paid on storage

User Marku
by
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1 Answer

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Final answer:

The original costs involved in purchasing an asset and putting it into use include taxes paid at the time of purchase and taxes paid on storage.

Step-by-step explanation:

When purchasing an asset and putting it into use, there are two original costs involved:

  1. Taxes paid at the time of purchase: These are taxes that are paid when the asset is initially acquired, such as sales taxes or value-added taxes. These taxes are added to the cost of the asset.
  2. Taxes paid on storage: Depending on the asset, there may be taxes or fees associated with storing or maintaining the asset. For example, if the asset requires a warehouse or storage facility, property taxes may apply.

User Tenhjo
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