A purchaser of the assets of a business must allocate the purchase price to the individual assets in accordance with the written agreement between the purchaser and the seller. Which of the following assets would be least preferred for purposes of allocating value from the purchaser point of view?
A) goodwill
B) equipment
C) office building
D) inventory
C) office building
The office building will have a 39-year recovery life. Allocated costs will be recovered more quickly with the other assets.
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Under the tort of invasion of privacy, ________.
A. newsworthy items or items of legitimate public interest can be the basis of a successful suit B. true, but public, facts about a person can be an invasion of privacy C. truth is a defense to "publication of private facts" D. some widespread dissemination of information is necessary for liability
Which of the following is the correct formula for the profit margin ratio?
A) Net profit / Sales B) Net sales / Average total assets C) Net profit × Capital invested D) Operating income / Net sales
You own a small independent retail store in your neighborhood. You want to offer fresh seafood, milk, and bread in your store. In this case, which of the following types of wholesalers will serve you the best?
A) truck jobber B) independent distributor C) drop shipper D) mail-order wholesaler E) manufacturers' agent
A male friend has asked for advice on how he should dress to give a presentation at a local business organization's annual awards banquet to be held in a downtown hotel. Which of the following would be your BEST suggestion?
a. Dress professionally, as much for yourself as for your audience. b. Anything that is clean and neat would be appropriate; your appearance will not be important to the audience. c. It is better to underdress than to overdress, so that you don't alienate yourself from your audience. d. Business casual wear would be appropriate, since the event is being held after work hours.