The net book value of a fixed asset is determined by
A) Original cost less accumulated depreciation
B) Original cost less depreciation expense
C) Original cost less accumulated depreciation plus depreciation expense
D) Original cost plus accumulated depreciation
A
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Effective note-taking systems may include which of the following?
A) outlines B) logic trees or ?sh diagrams C) maps D) all of the above
According to the recent import regulations in the United States, action figures that represent non-human creatures such as monsters or robots are categorized as toys and qualify for lower duties than human figures that are classified as dolls
Indicate whether the statement is true or false
The AICPA principles governing an audit explicitly state that an audit has inherent limitations prohibiting an auditor from obtaining reasonable assurance that the statements are free from misstatement
a. True b. False Indicate whether the statement is true or false
Western Outfitters projected sales of 79,000 units for the year at a unit sales price of $12
00. Actual sales for the year were 73,000 units at $14.00 per unit. Variable costs were budgeted at $4.00 per unit, and the actual variable cost was $5.00 per unit. Budgeted fixed costs totaled $375,000 while actual fixed costs amounted to $415,000. What is the flexible budget variance for operating income? A) $209,000 unfavorable B) $33,000 favorable C) $33,000 unfavorable D) $73,000 favorable