A silicon chip one cubic inch in size that contains thousands of small transistors is called a:
a. vacuum tube
b. transistor
c. reactor
d. large-scale integrated circuit
e. very large-scale integrated circuit
d. large-scale integrated circuit
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Cash paid for equipment would be reported on the statement of cash flows in
a. the cash flows from operating activities section b. the cash flows from financing activities section c. the cash flows from investing activities section d. a separate schedule
Recently, companies have been ordered by governmental agencies to clean up environmental damages caused by business operations. How should costs incurred in these situations be treated?
a. If a legal obligation exists, the cost of restoring the property must be added to the asset account. b. As an expense entirely in one accounting period. c. As an amortized expense in the period the cost is incurred. d. Added to the asset, and then depreciated over 15 years.
Selling costs are recognized as expenses in the period when goods are sold.
Answer the following statement true (T) or false (F)
If not all corporate venture efforts are financially rewarding, how else might they be evaluated?
What will be an ideal response?