Depreciation is the recognition of the change in fair market value of a plant asset over time.
a. true
b. false
b. false (Depreciation is the process of allocating to expense the cost of a plant asset over its useful (service) life in a rational and systemic manner.)
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Which of the following is an advantage of using the direct write-off method?
a. The revenue associated with the sale might be recognized in one period and the expense resulting from the uncollectible account recognized in another. b. The amount of Bad Debt Expense recognized in a given period is subject to manipulation by management. c. The amount of Accounts Receivable reported on the balance sheet does not represent the amount of cash actually expected to be collected. d. It is very simple to apply.
What do you understand by vendor-managed inventory (VMI)?
What will be an ideal response?
______ conflict is the clash in personality between one or more individuals in the workplace.
A. Process B. Structural C. Relationship D. Task
Total expenses reported on the income statement are $45,000, while revenues for the same period are $46,000 . Which statement below is correct?
a. There is a net income of $46,000. b. There is a net income of $1,000. c. There is no net income or loss. d. There is a net loss of $1,000. e. There is a net loss of $45,000.