Always subtract the salvage value from the original cost before figuring depreciation
Indicate whether the statement is true or false
F
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A theater test can be used to study a print advertisement from a billboard or the side of a bus
Indicate whether the statement is true or false
Which of the following is NOT a factor for collaborative forecasting?
a. new product introductions b. insight and judgment of the company’s supply chain partners c. historical demand d. customers’ buying power
Business income allocations from an S corporation to its shareholders are potentially subject to the 3.8 percent net investment income tax if the shareholders are passive investors in the S corporation.
Answer the following statement true (T) or false (F)
On April 1, Otisco, Inc. paid Garcia Publishing Company $1,548 for 36-month subscriptions to several different magazines. Otisco debited the prepayment to a Prepaid Subscriptions account, and the subscriptions started immediately. What amount should appear in the Prepaid Subscription account for Otisco, Inc. after adjustments on December 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?
A. $1,548. B. $387. C. $0. D. $1,161. E. $516.