Legally defined sites within a country that are subject to special customs procedures are:
a. free trade areas.
b. custom free zones.
c. foreign trade zones.
d. free custom areas.
c
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Under the direct charge-off method of dealing with uncollectible accounts,
A) revenues and expenses are properly matched. B) Accounts Receivable is shown on the balance sheet at net realizable value. C) Uncollectible Accounts Expense is recorded in the period of the sale. D) no Allowance for Uncollectible Accounts exists.
Which financial statement matches asset increases from operating a business with asset decreases from operating the business?
A. Balance sheet B. Statement of cash flows C. Income statement D. Statement of changes in equity
On October 1, 2017, Mulcahy, Inc purchased a patent for $100,000 cash
Although the patent gives legal protection for 20 years, it is expected to be used for only eight years. Journalize the amortization expense for 2017. Assume straight-line amortization. What will be an ideal response
Which of the following statements about the standard deviation are correct?
I. The standard deviation is a measure of relative dispersion. II. Standard deviations should be in conjunction with expected returns to compare investments. III. The standard deviation is calculated by taking the square root of the variance. IV. The higher the standard deviation of an investment, the lower its risk. A) I and IV only B) II and III only C) I, III and IV only D) I, II and III only