Depreciation on equipment a company uses in its selling and administrative activities would be classified as a period cost.
Answer the following statement true (T) or false (F)
True
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What are the three approaches for estimating benefit magnitude?
What will be an ideal response?
Lako Systems studied the performance of 15 line workers who attended a training program and compared their performance with a control group of 15 workers who received OTJ training. The purpose of this comparison is to evaluate the training program on the criterion of
A. reactions. B. behavior. C. learning. D. return on investment.
Recomputing the unexpired portion of insurance policies in effect tests which of the following assertions for prepaid insurance?
A. Existence. B. Classification. C. Rights and obligations. D. Valuation.
Eddie and Camilla received $11,600 for the rental of their rental house in Irvine, California. Eddie and Camilla do not use this property for personal use. The rent covers six months from October 1 of the current year to March 31 of next year. The amount also includes a security deposit of $2,000. How much should Eddie and Camilla report as rental income in the current tax year?
A. $9,600. B. $2,000. C. $11,600. D. $13,600.