Last-in, first-out costing assigns the most recent purchase cost to the ending inventory shown on the balance sheet
a. True
b. False
Indicate whether the statement is true or false
False
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If a residual plot looks like a parabola, what should you try adding to the model?
a. Try replacing y by its logarithm. b. Nothing, the residual plot should look like a parabola. c. Try adding x2 to the model. d. Try replacing x with its square root.
Which of the following is not a common point of exposure for a potential security breach?
a. Lax security processes b. Unprotected transfer facilities c. Data encryption d. Shipment control breakdown
Continual review and updating in light of new data is a forecasting technique called second-guessing.
Answer the following statement true (T) or false (F)
On January 1, Year 1, Li Company purchased an asset that cost $80,000. The asset had an expected useful life of five years and an estimated salvage value of $16,000. Li uses the straight-line method for the recognition of depreciation expense. At the beginning of the fourth year, the company revised its estimated salvage value to $8,000. What is the amount of depreciation expense to be recognized during Year 4?
A. $33,600 B. $16,800 C. $12,800 D. $20,800