Which of the following is NOT a way of calculating the amount of depreciation for each period?
a. straight-line method
b. declining-balance method
c. sum-of-the-years'-digit method
d. weighted-average method
d
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Which of the following is not true of accounting principles?
A) Financial accountants follow generally accepted accounting principles (GAAP). B) Following GAAP allows accounting information users to compare one company to another. C) A new accounting principle can be adopted with stockholders approval. D) The Financial Accounting Standards Board (FASB) has primary responsibility for developing accounting principles. E) Accounting principles develop from research, accepted accounting practices, and pronouncements of authoritative bodies.
Research highlighted in your text suggests that today’s emerging workforce, Millennials, are more individualistic and more focused on extrinsic rewards compared to older generations, and that Millennials’ ethical perspectives are different. Defend or refute using concepts from the text along with any personal anecdotes.
What will be an ideal response?
A __________ is a law establishing a maximum rate of permissible interest for which a lender and borrower of money may contract
a. wager b. usury statute c. Sunday statute d. None of these.
An important purpose of external audits is to
A) assess what a company has done for itself. B) evaluate production efficiency. C) evaluate sales effectiveness. D) investigate possible targets for mergers or acquisitions. E) assess what a company has done for its customers.