The write-off of intangible long-term assets is called depreciation
Indicate whether the statement is true or false
F
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The largest category of online advertising expenditures is for spots on search engines
Indicate whether the statement is true or false
Al's Electric Service is an electric contracting company in Metro City. The owner of the company, Al Richards, posted a bond guaranteeing that all work performed by his company will comply with local building codes
This bond is an example of a A) fiduciary bond. B) license and permit bond. C) contract bond. D) judicial bond.
Riviera Township reported the following data for its governmental activities for the year ended June 30, 20X9: ItemAmountCash and cash equivalents$1,000,000 Receivables 300,000 Capital assets 8,500,000 Accumulated depreciation 1,200,000 Accounts payable 400,000 Long-term liabilities 4,000,000 Additional information available is as follows:All of the long-term debt was used to acquire capital assets. Cash of $475,000 is restricted for debt service.Based on the preceding information, on the statement of net assets prepared at June 30, 20X9, what amount should be reported for net assets invested in capital assets, net of related debt?
A. $4,200,000 B. $2,900,000 C. $3,300,000 D. $2,825,000
Meredith, a shareholder in Quarto, Inc., notified Quarto's board of directors that the corporation had been wronged and asked the board to bring a lawsuit in the corporation's name. In response to Meredith's demand, the board
A. can file suit on behalf of the corporation. B. can reject Meredith's demand or simply fail to respond. C. can appoint a Special Litigation Committee. D. can do any of these options.