Which Principle of the AICPA Code of Professional Conduct is: A member, as a professional, should exercise sensitive and moral judgments in all their activities?
A) Objectivity and Independence
B) Integrity
C) Responsibilities
D) Due Care
C
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After closing entries are posted to the accounts in the general ledger, all asset and liability accounts have a balance of zero.
Answer the following statement true (T) or false (F)
Which of the following is a challenge faced by organizations in the second stage of moving toward a sustainable growth?
A) to increase efficiencies and reduce harmful environmental impact B) to set standards for environmental regulations C) to identify compliance as an opportunity to competitive advantage D) to recognize the ways sustainability can create consumer value
In calculating depreciation and amortization for tangible assets, physical factors that limit service lives include all of the following except:
a. ordinary wear and tear from use. b. chemical action such as rust. c. the effects of wind and rain. d. changes in production processes. e. none of the above.
Almendarez Corporation is considering the purchase of a machine that would cost $320,000 and would last for 7 years. At the end of 7 years, the machine would have a salvage value of $51,000. By reducing labor and other operating costs, the machine would provide annual cost savings of $72,000. The company requires a minimum pretax return of 18% on all investment projects. (Ignore income taxes.)Refer to Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided.The present value of the annual cost savings of $72,000 is closest to:
A. $504,000 B. $274,464 C. $874,298 D. $22,608