Under the MACRS system, the same convention that applies in the year of acquisition (e.g., half-year, mid-quarter, or mid-month) also applies in the year of disposition.
Answer the following statement true (T) or false (F)
True
Consistency of treatment regarding the half year, mid-quarter and mid-month conventions is required for the remainder of the asset's life.
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In a pure ________ attack, the attacker matches its opponent's product, advertising, price, and distribution
A) guerilla B) bypass C) encirclement D) frontal E) flank
It is inappropriate for a salesperson to provide information to his/her company on such topics as competitors' activities and market opportunities since doing so would exceed his/her authority and violate customer confidence.
Answer the following statement true (T) or false (F)
In January 2014, Bevis Company exchanged an old machine, with a book value of $256,000 and a fair value of $260,000, and paid $40,000 cash for a similar used machine having a fair value of $300,000 . The exchange lacked commercial substance. At what amount should the machine acquired in the exchange be recorded on Bevis' books?
a. $256,000 b. $296,000 c. $300,000 d. $304,000
Which of the following is true regarding the deferral of sale profits on a sale-leaseback under IAS 17, "Accounting for Leases?
a. Any profit on a sale-leaseback resulting in an operating lease is deferred and recognized over the subsequent lease period, whereas any loss is recognized immediately. b. Both profits and losses on a sale followed by an operating lease leaseback are recognized immediately if the transaction is established at fair value. c. Profit from the sale should be deferred and amortized in proportion to the amortization of the leased asset if a capital lease results from the sale-leaseback. d. Profit from the sale should be amortized in proportion to the rental payments it an operating lease results from the sale-leaseback.