An asset is purchased on January 1 for $44,200. It is expected to have a useful life of four years after which it will have an expected residual value of $5900. The company uses the straight-line method. If it is sold for $31,800 exactly two years after it is purchased, the company will record a:
A. gain of $6750.
B. gain of $5650.
C. loss of $5650.
D. loss of $6750.
Answer: A
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In a(n) ______ model, the seasonal indices are added to the projected trend data to create a combined forecast.
A. additive B. multiplicative C. subtractive D. trend-adjusted
A finite population correction factor is needed in computing the standard deviation of the sampling distribution of sample means
A. whenever the population is infinite. B. whenever the sample size is more than 5% of the population size. C. whenever the sample size is less than 5% of the population size. D. irrespective of the size of the sample.
Carl and Ron both work in road construction. They know that several jobs are going to be up for public bids, and agree between themselves that Carl will bid on one job and Ron will bid on the other, so that they both have work for the summer. When the bids are opened, Carl realizes that Ron has bid on both jobs. Ron is awarded both contracts. If Carl now wants to sue Ron for breach of contract:
a. Carl would probably win on the basis of promissory estoppel since he has detrimentally relied upon Ron's representation that he would not bid. b. since Carl is less at fault than Ron, the court will likely award Carl damages. c. the agreement will not be enforced by the courts because it violates public policy. d. the agreement will not be enforced by the courts because it obstructs the administration of justice.
The Noble Order of the Knights of Labor first developed in:
a. Virginia. b. Philadelphia. c. Arizona. d. Alabama.