Which of the following statements is correct about capital assets?
A. For managerial accounting purposes, "capital assets" are defined more narrowly than for financial accounting purposes.
B. Capital assets are only those that can be depreciated, whether using managerial or financial accounting.
C. For managerial accounting purposes, "capital assets" are defined more broadly than for financial accounting purposes.
D. Human capital and research and development are both considered capital assets for financial accounting purposes, but not for managerial accounting purposes.
Answer: C
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The principal difference between depreciation expense and most other types of expenses is that
A) depreciation expense can be avoided if the asset is worth at least what the company paid for it. B) depreciation expense requires an annual outlay of cash. C) the total amount of depreciation expense for the asset is reported on the balance sheet. D) depreciation expense is subject to more precise measurement than most other expenses.
Communication-style bias can cause a feeling that we simply do not like another person, without knowing exactly why
Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
13. According to the text, social capital is less tangible than physical and even human capital because its value can be easily assessed and measured. 14. In the United States today, people are more likely to interact socially than they were in the past due to an increased prevalence of community networks. 15. According to the text, many of the most successful ventures are built on forging relationships at the university level. 16. According to the text, the amount of possible referrals and leads one could obtain in a networking group of 20 to 40 people is almost incalculable. 17. According to the text, teams should discourage someone from taking on the role of “devil’s advocate” in meetings to prevent the team from becoming too critical. 18. When working as a team, groupthink inhibits the team’s ability to test or challenge assumptions.
Owning a patent:
A. Gives its owner the exclusive right to publish and sell a musical or literary work during the life of the creator plus 17 years. B. Indicates that the value of a company exceeds the fair market value of a company's net assets if purchased separately. C. Gives the owner exclusive rights to manufacture and sell a patented item or to use a process for 20 years. D. Gives its owner an exclusive right to manufacture and sell a device or to use a process for 50 years. E. Gives the owner the exclusive right to publish and sell a musical or literary work during the life of the creator plus 70 years.