Which of the following is/are true regarding measuring changes in the fair values of long-lived assets?
a. U.S. GAAP requires firms to recognize decreases in fair values as an impairment loss, and to recognize unrealized increases in fair values.
b. IFRS requires firms to recognize decreases in fair values as an impairment loss, and to never recognize unrealized increases in fair value.
c. U.S. GAAP requires firms to not recognize decreases in fair values, but to recognize unrealized increases in fair value.
d. IFRS requires firms to not recognize decreases in fair values, but to recognize unrealized increases in fair value.
e. U.S. GAAP and IFRS requires firms to recognize decreases in fair values as an impairment loss, and differ as to the recognition of unrealized increases in fair values.
E
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Clustering occurs where ______.
a. there is a concentration of critical resources in a particular region b. population is sparse c. there are not many consumers d. government requires production facilities to be located
The National Tax Accountants Professional Association (TAPA) has recommended that its members charge a minimum of $25 per hour for completing tax forms. This recommendation is probably:
a. a per se price fixing violation of the Sherman Act. b. not a violation of the Sherman Act, because it has been made by a professional association. c. not a violation of the Sherman Act, because a fee is different from a price. d. subject to the rule of reason.
Which of the following illustrates a sustaining technology?
A) Digital cameras replaced cameras that required film. B) Digital music sold over the Internet disallowed simultaneous downloads. C) LCD monitors were introduced to replace analog monitors. D) Car manufacturers invented airbags to improve safety of passengers.
You are planning to deposit $10,000 today into a bank account. Five years from today you expect to withdraw $7,500. If the account pays 5% interest per year, how much will remain in the account eight years from today? Round to the nearest dollar
What will be an ideal response?