Why is it important for a company to maintain the same accounting methods and practices from period to period?
An important aspect of financial analysis is comparing financial information about a company from one period to another. The only way to make a valid comparison is if the same set of rules (standards) have been used each period.
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Winwood Construction purchased a crane on January 1 . 2013 . for $102,750 . At the time of purchase, the crane was estimated to have a life of six years and a residual value of $6,750 . In 2015, Winwood determined that the crane had a total useful life of seven years and a residual value of $4,500 . If Winwood uses the straight-line method of depreciation, what will be the depreciation expense
for the crane in 2015? a. $16,000 b. $13,250 c. $9,464 d. $8,000
Which of the following is considered information?
A. Best-selling item by month B. Product sold C. Quantity sold D. Date sold
Spokespeople who substantiate an organization's view and demonstrate its merits should expect that the media will report upon it accurately
Indicate whether the statement is true or false
Only shareholders can call special meetings of the board
Indicate whether the statement is true or false