Answer the following statements true (T) or false (F)
All of the tests or conditions identified in SFAS No. 13 must be met before a lease can be capitalized.
ANSWER: F
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Which one of the following statements is true?
A) The activity method of computing depreciation could result in zero depreciation expense in some periods of time. B) If the activity method is in use, residual value should not be subtracted from cost to determine the depreciation base. C) The activity method produces a constant total cost of depreciation each period. D) The activity method should be used when the service life of the asset is affected mostly by the passage of time.
Q is to ________ systems as P is to ________ systems
A) fixed quantity, fixed period B) variable demand, constant demand C) variable lead time, variable demand D) variable quantity, variable period E) quality, price
On January 1, Year 1, Mayer Corporation signed a contract to perform $25,000 worth of services for Phips Company over the next three years. Which of the following indicates the effects of this event on the Year 1 income statement and statement of cash flows of Mayer Corporation? Cash FlowsNet IncomeOperatingInvestingFinancing
A.
| NA | NA | NA | NA |
B.
| 25,000 | 25,000 | NA | NA |
C.
| NA | NA | NA | 25,000 |
D.
| 25,000 | NA | 25,000 | NA |
A list server can be used to manage e-mail marketing campaigns
Indicate whether the statement is true or false