Your company pays $620,000 for a patent that has 10 years remaining. Each year, your company should:
A. report no Amortization Expense because patents are not subject to amortization.
B. debit Amortization expense for $62,000 and credit Patent for $62,000.
C. debit Amortization Expense for $62,000 and credit Accumulated Depreciation for $62,000.
D. debit Intangible assets and credit Accumulated Amortization for an amount equal to 20% of book value.
Answer: B
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Which of the following would not be considered a strength of the situational approach?
A. emphasizes leadership flexibility B. is a very practical approach C. is considered a credible model for training leaders within organizations D. takes the influence of gender into account during leader-follower situations
In a proxy contest, only the incumbent directors are permitted to solicit proxies from shareholders
Indicate whether the statement is true or false
Amanda was just hired to work for a federal agency in the procurement department. Amanda shops for the best buys possible and thinks she has found a great deal. She returns to her office and tells her supervisor about her discovery. Her boss tells her to be sure that the Buy American Act is satisfied. Amanda decides to research the law. What will she find?
a. That under all circumstances federal agencies must purchase products that are 100% made in the U.S.A. b. That under all circumstances federal agencies must purchase products with at least 75% of the components made in the U.S.A. c. That unless the price is a certain percentage higher than the price of the equivalent foreign product, federal agencies must buy products with at least 50% of the components made in the U.S.A. d. That federal agencies may buy foreign made products so long as it can be established that a representative did comparison shopping and established that the foreign made good is a better deal than the made in the U.S.A. product.
The number of nurses and doctors that a hospital may need on any given day depends not only on the number of patients but also the types of patient care required. This is an illustration of which of the following statements?
a. Services cannot be inventoried. b. Services have low demand volatility. c. Services require skilled labor. d. Capacity required for services is hard to predict.