An asset can be disposed of by all of the following except:
A. Exchanging it for another asset.
B. Continuing to use it after it is fully depreciated.
C. Selling it.
D. Discarding it.
E. Donating it to charity.
Answer: B
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Richard exchanges a building with a basis of $35,000, and subject to a liability of $25,000, for land with a FMV of $50,000 owned by Bill. Bill takes the building subject to the liability. What is the amount of Richard's realized gain?
A. $15,000 B. $0 C. $25,000 D. $40,000
A(n) ________ identifies business revenues, expenses, and profits
A) business statement B) income statement C) capitalization statement D) cash-flow statement E) market sheet
The interviewer asks you to describe a time when you worked successfully as a member of a team. Which of the following is the best way to respond?
A) Reply that you have worked successfully as a team member so many times that no particular instance stands out. B) Say that you enjoy teamwork such as group problem solving, but that you also work well independently. C) Tell a success story about a group project, describing your contributions and the results. D) List the names of the work teams on which you have been a member, and stress that all of these teams have been successful.
Japanese labor law was established by the U.S. and occupation authorities at the end of World War II and based on the U.S. and model of labor relations.
Answer the following statement true (T) or false (F)