Henry Ford was a strong believer in work specialization.
Answer the following statement true (T) or false (F)
True
Henry Ford was perhaps the earliest (and clearly most well-known) believer in high degrees of work specialization.
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Use the information below for Soho Inc for 2016 and 2017 to answer the following question. Equipment, December 31, 2016 $65,000 Equipment, December 31, 2017 72,000 Accumulated depreciation, December 31, 2016 39,000 Accumulated depreciation, December 31, 2017 30,000 During 2016, Soho Inc sold equipment with a cost of $30,000 and accumulated depreciation of $25,000 . A gain of $3,000 was recognized
on the sale of the equipment This was the only equipment sale during the year. What amount would be reported as the cash proceeds from the sale of equipment? a. $2,000 b. $3,000 c. $5,000 d. $8,000
What criterion or criteria must sales transactions meet in order for the seller to recognize revenues before collecting cash?
a. The revenues must be earned (the firm must have achieved substantial performance). b. The amount to be received must qualify as an asset (there must be a future economic benefit and the amount must be measured with sufficient reliability). c. The firm must have a reasonable expectation that it will collect the amount owed from the customer. d. All of the above. e. None of the above.
What is a negative outcome of leaders having too much power?
A. too much focus B. possible corruption C. minimal trust in self D. a meek personality
A company cannot have a liability if the amount of the obligation is unknown.
Answer the following statement true (T) or false (F)