Office furniture was purchased for $14,000 . It had an estimated residual value of $2,000 and has a current carrying value of $6,000 . Its depreciable cost must have been
a. $15,000.
b. $9,000.
c. $12,000.
d. impossible to determine from the facts given.
C
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The accumulated depletion account is
a. an intangible asset account b. reported on the balance sheet as a deduction from the cost of the mineral deposit c. reported on the income statement as other expense d. an expense account
Pat is something of a cheerleader around his team. He shares his vision and expresses his confidence in his team's ability to achieve his vision. He is quick to compliment and acknowledge team members' accomplishments, and he is enthusiastic about their successes. According to revised path-goal theory, Pat is using a(n) ______ leadership style.
A. achievement-oriented B. path-goal clarifying C. interaction facilitation D. value-based E. relationship-oriented
The owner of a pet store ordered $200 worth of bird feed from Cadmia Avicultural Research Inc. The invoice dated October 18 that was sent to the store owner mentioned "3/10, EOM." This detail indicates that if the store owner pays the bill on November 2:
A. the price will be tripled. B. he will get a 3 percent discount. C. the price will increase by 3 percent. D. he will get a 10 percent discount. E. he will get no discount.
A LIFO liquidation occurs when a company sells fewer units than it buys during the period
a. True b. False Indicate whether the statement is true or false