The anticipated purchase of a fixed asset for $400,000, with a useful life of 5 years and no residual value, is expected to yield total net income of $200,000 for the 5 years. The expected average rate of return on investment is 25.0%
Indicate whether the statement is true or false
False
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When making a retrospective adjustment, all of the following steps are included except
A) computing the cumulative effect of the new accounting principle as of the beginning of the first period presented. B) adjusting the current period net income for the cumulative effect of the change. C) adjusting the carrying value of impacted assets and liabilities. D) disclose the nature and reason for the change in accounting principle, including the new principle is preferable.
During which of the following stages of the business buying process is a buyer most likely to conduct a value analysis by carefully studying components to determine if they can be redesigned, standardized, or made less expensively?
A) proposal solicitation B) general need description C) order-routine specification D) performance review E) product specification
Principle of exceptions allows managers to focus on correcting variances between standard costs and actual costs
Indicate whether the statement is true or false
Which of the following is FALSE concerning the benefits of the team interview process?
a. The team interview is a collective group of people who know the attributes of the job. b. The team interview members can review resumes individually and collaboratively to identify the ideal candidate. c. The team interview can be used to fairly assess all candidates' qualifications. d. The team interview results in a quicker hiring decision than does a traditional interview.