Which of the following is not used in the calculation of annual depreciation using the straight-line method?
a. cost of asset; b. accumulated
depreciation; c. useful life; d. salvage value; e. all are used.
B
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Obsolete inventory should be written down to its current market value.
Answer the following statement true (T) or false (F)
Companies generally are not concerned about the link between their investments in marketing efforts and their sales results
Indicate whether the statement is true or false
Enrico is a self-employed electrician. In May of the current year, Enrico acquired a used van (5-year property) for $12,000. He used the van 80% for business and 20% for personal purposes. Enrico does not apply Sec. 179 or bonus depreciation. The maximum depreciation deduction for the van is
A. $6,720. B. $1,920. C. $1,200. D. $2,400.
Homeowners' insurance will not pay out more than the face amount of the dwelling protection
Indicate whether the statement is true or false