Answer the following statements true (T) or false (F)
1. The useful life of a plant asset is the length of the service period expected from the asset.
2. Estimated residual value is not depreciated because the company is guaranteed to receive this amount when the asset is sold.
3. Estimated residual value can be zero if the company does not expect to receive anything when
4. When a business uses the straight-line method of depreciation, the amount of depreciation is reduced from year to year.
5. The book value of a plant asset is reported on the balance sheet as the cost of the asset minus accumulated depreciation.
1. TRUE
2. FALSE
3. TRUE
4. FALSE
5. TRUE
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Landscaper Lottie used her machinery, employee labor, and her expertise to landscape Opal's new guest home. Opal fails to pay for the landscaping because she has run out of money. Lottie files a lien against the real property. This lien is called
a. an artisan's lien; her landscape design is a work of art. b. a landlord's lien; Opal is planning to rent the guest house to a tenant. c. a mechanic's lien; it was created by improving real property. d. a purchase money security interest.
Our ______ is an important factor in determining how well we live.
A. income B. age C. credit D. loan interest rate E. savings
____ assist with the complexity of generating a resource-leveled schedule and resource requirements graphs and tables
a. Project management information systems b. Formulas and techniques c. Trial and error techniques d. Calendaring systems
The demand for trains between Marshdell and Deepbarrow varies throughout the year. The demand reaches its peak in summer and drops during winter. This demand for trains can be categorized as _____
A) static demand B) overfull demand C) unwholesome demand D) dynamic demand