Starch is a polysaccharide that stores energy in animal cells.
Answer the following statement true (T) or false (F)
False
Starch is a polysaccharide that stores energy in plant cells.
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Which of the following is an application of accrual accounting?
a. Depreciating a building as quickly as allowed by income tax regulations b. Recording utilities expense in the accounting period covered by the monthly bill c. Expensing a machine in its entirety when purchased d. Recording revenue at the time payment is received
One of the four general criteria for a capital lease is that the present value at the beginning of the lease term of the minimum lease payments equals or exceeds
a. the property's fair market value. b. 90 percent of the property's fair market value. c. 75 percent of the property's fair market value. d. 50 percent of the property's fair market value.
Ficia Inc. owned investment land subject to a $294,500 recourse mortgage. Ficia failed to make timely mortgage payments, so the creditor foreclosed. At date of foreclosure, Ficia's basis in the land was $300,000, and the land's appraised FMV was $260,000. The creditor informed Ficia that it would not pursue collection of the $34,500 unpaid balance of the mortgage. Which of the following statements is true?
A. Ficia recognizes only a $40,000 capital loss. B. Ficia recognizes only a $5,500 capital loss. C. Ficia recognizes $34,500 ordinary income and a $40,000 capital loss. D. None of the above
Which of the following statements about simulation is FALSE?
a. Since each simulation model is specifically developed to analyze a specific problem, the models, results, or the conclusions cannot be transferred to other problems. b. Simulation results are generally not more accurate than analytical models. c. It is a flexible tool and can be quickly adapted as conditions in the problem environment change. d. Developing complex simulation models can be time-consuming and expensive.