The area where two sides in a negotiation may find common ground is called ______.
What will be an ideal response?
zone of possible agreement (ZOPA)
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For intangible assets, controls should be designed to do which of the following?
a. Identify and account for intangible asset impairments. b. Develop amortization schedules that reflect the remaining useful life of patents or copyrights associated with the asset. c. Provide reasonable assurance that decisions are appropriately made as to when to capitalize or expense research and development expenditures. d. All of the above.
In the ABC system of inventory management, the two-bin method or system could be utilized to control C items
Indicate whether the statement is true or false
Plant Company acquired all of Sprout Corporation's stock on January 1, 20X6 for $150,000 cash. On December 31, 20X8, the trial balances of the two companies were as follows: Plant CompanySprout Corporation DebitCreditDebitCreditCash$90,000 $58,000 Accounts Receivable 97,000 55,000 Land 80,000 45,000 Buildings and Equipment 300,000 200,000 Investment in Sprout Corp. 180,000 Cost of Services Provided 140,000 75,000 Depreciation Expense 30,000 20,000 Other Expenses 70,000 35,000 Dividends Declared 40,000 20,000 Accumulated Depreciation $180,000 $100,000 Accounts Payable 42,000 18,000 Taxes
Payable 20,000 20,000 Notes Payable 75,000 50,000 Common Stock 100,000 50,000 Retained Earnings 265,000 90,000 Service Revenue 300,000 180,000 Income from Subsidiary 45,000 $1,027,000 $1,027,000 $508,000 $508,000 Sprout Corporation reported retained earnings of $75,000 at the date of acquisition. The difference between the acquisition price and underlying book value is assigned to buildings and equipment with a remaining economic life of five years from the date of acquisition. At December 31, 20X8, Sprout owed Plant $4,000 for services provided.Based on the preceding information, what amount of total retained earnings will be reported in the consolidated balance sheet for the year 20X8? A. $330,000 B. $370,000 C. $450,000 D. $430,000
Which of the following items does not affect the calculation of depreciation expense?
A. Useful life of the asset. B. Economic benefits generated by the asset. C. Residual value of the asset. D. Capitalized cost of the asset.