1. What are several examples of operating assets? Why are operating assets essential to a company’s long-term future? 2. What is the meaning of the term acquisition cost of operating assets? Give some...

1. What are several examples of operating assets? Why are operating assets essential to a company’s long-term future?

2. What is the meaning of the term acquisition cost of operating assets? Give some examples of costs that should be included in the acquisition cost.

3. When assets are purchased as a group, how should the acquisition cost of the individual assets be determined?