According to GAAP, goodwill should
a. be expensed when acquired.
b. be amortized over its useful life.
c. be written down when an impairment occurs.
d. never be expensed, amortized, or written down.
c
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Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy Janitorial on October 17. If the note is dishonored, but Uniform Supply intends to continue collection efforts, what entry should Uniform Supply make on January 15 of the next year? (Assume no reversing entries are made.) (Use 360 days a year.)
A. Debit Cash $4,920; credit Notes Receivable $4,920. B. Debit Cash $4,920; credit Interest Revenue $100; credit Interest Receivable $20, credit Notes Receivable $4,800. C. Debit Notes Receivable $4,800; debit Interest Receivable $120; credit Sales $4,920. D. Debit Accounts Receivable $4,920; credit Interest Revenue $20; credit Interest Receivable $100, credit Notes Receivable $4,800. E. Debit Cash $4,920; credit Interest Revenue $20; credit Interest Receivable $100, credit Notes Receivable $4,800.
Which of the following is a disadvantage of using television as an advertising medium?
A) high absolute cost B) low audience attention C) lack of reach among audience D) high audience selectivity E) absence of clutter
The practice of purchasing other companies within one's supply chain which is predicated on the notion that a company's profits can be maximized by owning one's supplier is known as:
a)transfer purchasing. b)supply chain management. c)vertical integration. d)profit integration.
The Environmental Protection Agency was established in:
A) 1970. B) 1909. C) 1934. D) 1886.