On July 1, 2016, American Stereo purchased stereo equipment for $5,000. The estimated life of the equipment was ten years and the residual value was estimated to be $2,000. Double-declining-balance depreciation was used. If calculations are based on the nearest whole month, depreciation expense for the year 2018 was
A) $720
B) $900
C) $640
D) $800
A
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Predicting economic and income growth rates is particularly important when researching which type of market?
A) existing markets B) latent markets C) parallel markets D) incipient markets E) local markets
Which of the following is not an example of an IP-related litigation?
A. Apple and HTC sue each other based on patent infringement. B. China is sued by U.S. manufacturers of video games. C. Apple sues smartphone makers running Android, the Google mobile operating system. D. The United States sues to get access to physical plant assets in China.
The most important reason that a firm might use a sales force forecasting survey to determine its sales forecast is
A. salespeople are generally optimistic about the future and will provide excellent forecast targets. B. most salespeople tend to have a pessimistic outlook, which is more likely to result in an achievable sales forecast. C. this tends to be the fastest way to determine a good sales forecast for the upcoming period. D. the averaging and other statistical techniques applied to these forecasts result in extremely accurate numbers. E. the sales staff is closer to the actual customers on a regular basis than anyone else in the organization.
When using the indirect method to calculate and report net cash provided or used by operating activities, which of the following is subtracted from net income?
A. Decrease in merchandise inventory. B. Amortization of intangible assets. C. Decrease in income taxes payable. D. Bad debts expense. E. Depreciation expense.