Firms initially record property, plant, and equipment, sometimes referred to as fixed assets, at acquisition cost, the cash paid or the fair value of other consideration given in exchange for the asset. Which of the following is/are true?
a. Acquisition cost includes all costs necessary to prepare the asset for its intended use.
b. Firms capitalize into the asset's carrying amount subsequent expenditures that extend the service life or increase the benefits of a fixed asset beyond those initially anticipated.
c. Buildings and equipment have a finite life, so firms must depreciate their acquisition cost less estimated salvage over the expected service life.
d. Firms may use a straight-line method or accelerated depreciation methods.
e. all of the above
E
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Which of the following is not a quick asset?
a. cash; b. accounts receivable; c. inventory; d. temporary investments; e. petty cash.
The wetland permit program:
A. specified a list of 189 chemicals for which the Environmental Protection Agency (EPA) is required to issue regulations requiring the installation of the maximum available control technology. B. is administered by the Kyoto Protocol with the Environmental Protection Agency (EPA) involvement. C. can limit a landowner's use of property when that use is viewed as injurious to the values protected by the Clean Water Act. D. established a program governing the injection of wastes into wells.
You can only observe ______ and try to explain and predict their behavior based on your understanding of the OB foundations.
a. individuals’ personality b. individuals’ attitudes c. individuals’ emotions d. individuals’ actions
Which of the following federal statutes that regulate labor-management relationships cover airline carriers?
A) Norris-LaGuardia Act B) National Labor Relations Act C) Railway Labor Act D) Landrum-Griffin Act