Profit center service desks are under increasing pressure to analyze and control their costs, market the value of their services, and without alienating customers, charge a premium for "customized" services; however, cost center service desks are not under these same pressures.
Answer the following statement true (T) or false (F)
False
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Typically, the impact of the LIFO reserve is to
A) increase cost of goods sold and decrease ending inventory B) decrease cost of goods sold and decrease ending inventory C) increase cost of goods sold and increase ending inventory D) have no effect on cost of goods sold and ending inventory
The book value of a plant asset is defined as:
a) replacement cost minus accumulated depreciation. b) current sales value minus historical cost. c) historical cost minus accumulated deprecation. d) historical cost minus estimated residual value.
When comparing annuity due to ordinary annuities, annuity due annuities will have higher
A) present values. B) annuity payments. C) future values. D) both A and C. E) all of the above.
Which of the following transfers is subject to the gift tax?
A. Lance purchases land, titling it in the names of Lance and Sheryl, joint owners. B. Frank gives $30,000 to a lobbying group promoting stricter environmental regulations. C. Matilda contributes $5,000 to a Senate candidate's political organization. D. Julia establishes a trust benefiting her nieces and nephews. Julia will determine the amount of any distributions made.