Resources that are used in operations more than one year with no physical substance are called:
A) current assets.
B) intangible assets.
C) plant assets.
D) property, plant, and equipment.
B
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There has been an auditor change at Company X. Which of the following situations may NOT signal a potential fraud problem?
a. Failure to pay an audit fee b. Auditee believing that the auditor's fees are too high c. Suspected fraud or other problems by the auditor d. Auditor-auditee disagreement
Martin Company purchases a machine at the beginning of the year at a cost of $74,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 4 years with a $7000 salvage value. Depreciation expense in year 4 is:
A. $18,500. B. $67,000. C. $0. D. $74,000. E. $16,750.
McDonald's, KFC, and Subway are examples of
A. licensing. B. strategic alliances. C. joint ventures. D. franchising.
What is a potential problem, if any, if you design a database in which the last name of a consultant functionally determines the consultant's address?
A. There is no problem with this design. B. There could be two consultants living at the same address. C. There could be more than one consultant with the same last name. D. The address will automatically functionally determine the consultant's last name.