Under the UCC, implied warranties on goods include:
a. warranty of price, warranty of commercial practicability and warranty of origin.
b. warranty of title, warranty of merchantability and warranty of fitness for a particular purpose.
c. warranty of price, warranty of quantity and warranty of title.
d. warranty of title, warranty of price and warranty of origin.
b
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A company recognizes the need for a new database management system. During the process of purchasing the new system, who is most likely to be concerned with installation timing, and after-sale support?
A) the initiator B) the user C) the decider D) the purchaser
Which of the following is not true for an operating segment according to U.S. GAAP?
A. Discrete financial information generated by the internal accounting system is available. B. The segment is regularly reviewed by a chief decision maker to make resource allocations. C. The segment recognizes revenues and incurs expenses. D. An organizational unit cannot be an operating segment if all of its operating transactions are only with other segments of the organization. E. The segment is regularly reviewed by a chief decision maker to assess performance decisions.
In comparing two projects, the ____ is often used to evaluate the relative riskiness of the projects
a. payback period b. net present value c. internal rate of return d. discount rate
A company used straight-line depreciation for an item of equipment that cost $12,000, had a salvage value of $2,000 and a five-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,200 but its total useful life remained the same. Determine the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life:
A. $5,400 B. $2,400 C. $1,000 D. $2,000 E. $1,800