Which of the following would not be a basis for estimating the useful life of a piece of equipment?
a. Potential production in units
b. Potential hours of service
c. Historical cost
d. Years of service
C
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Salvage value is
a. also called depreciable cost; b. part of accumulated depreciation; c. shown on the balance sheet as a contra-asset; d. an expense when the asset is sold; e. none of these.
In emerging industries:
A. environmental factors do not affect customer demand. B. entrepreneurs confront demand certainty. C. it is easier to respond effectively to sudden changes. D. environmental changes are highly likely.
When one person agrees to pay the debt of another as a favor to that debtor, it is called
a. promisory representation. b. a mutual promise. c. promisory estoppel. d. a collateral promise.
In the ________ stage, individuals are largely concerned with achieving more responsibility and financial success.
A. exploration B. maintenance C. establishment D. decline