A modified rebuy is most likely to occur for
A. file folders.
B. paper clips.
C. a desk.
D. brooms.
E. copier paper.
Answer: C
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Answer the following statements true (T) or false (F)
1. An expenditure that increases the capacity or efficiency of a plant asset or that extends the asset's life is known as a revenue expenditure. 2. Repair work that generates a capital expenditure because it extends a plant asset's useful life past the normal expected life is known as an extraordinary repair. 3. Ordinary repairs to plant assets are referred to as revenue expenditures. 4. If a minor repair was incorrectly debited to the asset account, expenses and net income would be 5. If a company expenses an extraordinary repair, net income would be understated and the asset would be understated.
Mary was getting a ride home in John's new car. On the way, a malfunctioning brake caused an accident and both Mary and John were injured. Which of the following statements is true of this situation?
A. Mary can recover in a strict liability lawsuit against the manufacturer of John's car. B. Mary can file a strict liability lawsuit against John. C. Mary can file a negligence lawsuit against the dealership that sold John his car. D. John can file a negligence lawsuit against the dealership from which he bought the car.
An offer calling for prompt shipment of goods can only be accepted by promptly shipping the
goods. Indicate whether the statement is true or false
Which of the following statements is TRUE regarding immigration under Title VII?
a. An interviewer cannot ask an applicant if he or she is authorized to work in the United States. b. Once hired, a person must show three forms of evidence proving he or she is authorized to work in the United States. c. It is illegal for employers to discriminate against non-citizens because "national origin" is a protected category. d. Once hired, employers must turn I-9 records over to the immigration office.