Which of the following is/are true regarding long-lived assets with a finite life?
a. The firm consumes the asset's services over time in generating revenues.
b. The balance sheet carrying value decreases over time as the firm recognizes the cost of the asset as an expense.
c. A portion of the acquisition cost is recognized as an expense each period.
d. Management must estimate the asset's finite life.
e. all of the above
E
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The following data concerns Wang Corporation for 2015: Credit sales during the year $1,600,000 Accounts Receivable—December 31, 2015 235,000 Allowance for Doubtful Accounts—December 31, 2015 18,000 Bad debt expense for the year 11,000 What amount will Wang show on its year-end balance sheet for the net realizable value of its accounts receivable?
a. $253,000 b. $235,000 c. $224,000 d. $217,000
______________________________________ is a line item on the income statement to reflect the net income or loss of a discontinued business segment as well as any gain or loss incurred from its disposal
Fill in the blank(s) with correct word
During which phase of mitosis and meiosis will the state of the chromosome be the same?
A. prophase II and prophase B. metaphase I and metaphase C. telophase I and telophase D. anaphase II and anaphase
What is accomplished by the Mondragon Corporation’s pay solidarity rules?
a. preventing too high a percentage of profits from going to workers instead of the company b. capping the amount any worker can make in any one given year c. equal distribution of profits d. limiting the range of pay disparity between the highest and lowest earners