Answer the following statements true (T) or false (F)
1) The cost of furniture and fixtures includes all costs to ready the asset for its intended use.
2) The cost paid to a laborer to assemble a desk is recorded as an expense.
3) A lump-sum purchase or basket purchase involves paying a single price for several assets as a group.
4) The lump-sum amount paid for a group of assets is divided among the acquired assets based on their relative market values.
1) TRUE
2) FALSE - The cost paid to a laborer to assemble a desk is recorded as part of the asset, furniture.
3) TRUE
4) TRUE
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When is a pull strategy appropriate?
A) when there is low brand loyalty B) when consumers are able to perceive differences between brands C) when brand choice is made in the store D) when it is a low involvement purchase E) when the product is an impulse item
Extraordinary gains and losses must be shown in the financial statements "net of tax."
Indicate whether the statement is true or false
Which of the following questions would the internal business perspective of the balanced scorecard attempt to answer?
A) How does the company continue to improve, learn, and grow? B) How do customers view the company? C) Which business processes must the company excel in? D) How does the company create value for its stakeholders?
Donald applies for a life insurance policy with Equity Insurance Company through Fletch, an agent who works for Equity. Donald pays the initial premium. Fletch writes a binder, which
A. acknowledges the application and promises to consider it. B. attests to the truth of each statement in the application C. evidences receipt of the payment of the initial premium. D. indicates that a policy is pending and states its essential terms.