Pulse Plastics Inc. realized a decrease in net plant and equipment from last year's balance sheet to this year. If the firm did not sell or salvage any existing plant and equipment, which of the following statements MUST be true?
A) The firm made no additional plant and equipment purchases.
B) The firm's plant and equipment is an income statement entry not a balance sheet entry. This is a trick question!
C) Depreciation expense must exceed the addition to accumulated retained earnings.
D) Depreciation expense exceeded the value of new plant and equipment purchases.
D
You might also like to view...
Gatlin, Inc is a dry wall (sheetrock) firm that has submitted a bid to Kalil Homes to do the dry wall work on the new Kalil subdivision of 280 homes. Kalil accepts Gatlin's bid and after 10 homes are completed substantially changes the specs on the
homes. Gatlin needs to charge more money in order to still earn a profit. Kalil maintains Gatlin is bound by the original contract price. Who is correct?
Looking at the competitors and their products, you can see that there are three components to a successful e-book platform that do NOT include ____.
A. an e-book reader (either a dedicated device or software for computers and mobile devices) B. a warehouse C. wireless e-book delivery D. an extensive e-book catalog
For many clients, the most devastating impact from a security breach is the loss or leakage of data
Indicate whether the statement is true or false.
The first quartile
a. contains at least one third of the data elements. b. is the same as the 25th percentile. c. is the same as the 50th percentile. d. is the same as the 75th percentile.