________ is an example for accrued expense
a. Salaries expense
b. Prepaid insurance
c. Prepaid rent
d. Depreciation expense
a
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A method of allocating merchandise cost that is based on the average cost of identical units is known as weighted-average cost or average cost
a. True b. False Indicate whether the statement is true or false
According to the most current FASB standards, intangible assets acquired in a basket purchase that does not represent the acquisition of an entire business should be
a. valued by allocating the total purchase price according to the relative fair values of all assets acquired, regardless of whether the assets are separately tradable or contract based. b. valued by allocating the total purchase price according to the relative fair values only of intangible assets that are separately tradable or contract based. c. valued by recording separately traded and contract based intangible assets at their individual fair values with any unallocated purchase price being recognized as goodwill. d. valued by recording separately traded and contract based intangible assets at their individual fair values with any unallocated purchase price being expensed in the year of acquisition.
Both pay level and pay forms focus on two objectives: to control costs and to reduce the need for employees.
Answer the following statement true (T) or false (F)
To protect trade secrets, a company may include a covenant not to compete in an employment contract.
Answer the following statement true (T) or false (F)