Buyers want to exert only minimal effort to obtain shopping products.
Answer the following statement true (T) or false (F)
False
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On December 1, 2016, Xeon Company bought land and an accompanying warehouse from Yen Company for $800,000 . The fair market values of the land and the building at the time of purchase were $700,000 and $300,000, respectively. How much of the purchase price should Xeon Company allocate to the land and how much should be allocated to the building?
a. $457,143 and $342,857, respectively. b. $700,000 and $300,000, respectively. c. $560,000 and $240,000, respectively. d. $500,000 and $300,000, respectively
Which one of the following statements is true?
A) The activity method of computing depreciation could result in zero depreciation expense in some periods of time. B) If the activity method is in use, residual value should not be subtracted from cost to determine the depreciation base. C) The activity method produces a constant total cost of depreciation each period. D) The activity method should be used when the service life of the asset is affected mostly by the passage of time.
For how long is the copyright protection provided to individuals under the Copyright Term Extension Act of 1998?
A) Individuals are granted 120 years copyright protection from the year of first publication of the work. B) Individuals are granted 95 years copyright protection from the year of creation of the work. C) Individuals are granted copyright protection for their lifetime plus 70 years. D) Individuals are granted 20 years of copyright protection, after which it has to be renewed for a fee.
Rights represented by a stock certificate or a promissory note are examples of intangible property
Indicate whether the statement is true or false