Which of the following is not a characteristic of the Fixed Asset System?
a. Acquisitions are routine transactions requiring general authorization.
b. Retirements are reported on an authorized disposal report form.
c. Acquisition cost is allocated over the expected life of the asset.
d. Transfer of fixed assets among departments is recorded in the fixed asset subsidiary ledger.
A
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Under which of the following contract devices does a seller usually retain title on a property until the full price for the property is paid?
A. Land sales contract B. Deed of trust C. Strict foreclosure D. Mortgage
In the U.S., employers have the right to hire permanent strike replacements in:
A. an economic strike B. an unfair labor practice strike C. any strike that would create an economic hardship for the employer D. a noneconomic strike
To bring a code of ethics to life, experts advocate a forceful, integrated approach to ethics. According to this, _____.
A. when people violate ethical norms, companies must respond publicly to retain employee trust B. top managers should not overcommunicate the importance of ethics C. ethics should be considered a separate unit and not be integrated into mandatory staff training D. managers should enforce strict laws against whistle-blowers
A deductible under which expenses are accumulated on an annual basis, and once a specified total is reached, the deductible is satisfied for the year is called a
A) calendar-year deductible. B) prospective deductible. C) straight deductible. D) waiting period.