_____ is the basis for the practice of reporting certain assets at the lower of acquisition cost or fair value. The requirement to test assets for impairment and to record impairment charges rests on the notion that balance sheet carrying values of assets should not exceed the amount of cash that the firm expects to receive by using or selling the asset
a. Conservatism
b. Reliability
c. Relevance
d. Recognition
e. Realization
A
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A journal with Debit and Credit columns for Cash, as well as General Debit and General Credit columns, is called a general journal
a. True b. False Indicate whether the statement is true or false
Braverman Corporation's net income last year was $75,000 and its interest expense was $10,000. Total assets at the beginning of the year were $650,000 and total assets at the end of the year were $610,000. The corporation's income tax rate was 30%. The corporation's return on total assets for the year was closest to:
A. 13.0% B. 12.4% C. 11.9% D. 13.5%
The weights of items produced by a company are normally distributed with a mean of 4.5 ounces and a standard deviation of 0.3 ounces. a.What is the probability that a randomly selected item from the production will weigh at least 4.25 ounces?b.What percentage of the items weigh between 4.8 to 5.0 ounces?c.Determine the minimum weight of the heaviest 5% of all items produced.d.If 27,875 of the items of the entire production weigh at least 5.01 ounces, how many items have been produced?
What will be an ideal response?
GlaxoSmithKline plc. of Great Britain makes Breathe-Right nasal strips. It sells the same product in many countries because customers all over the world will use them in the same way. This is an example of which type of global marketing product and promotion strategy?
A. product adaptation B. product customization C. product integration D. product extension E. product invention