Answer the following statement(s) true (T) or false (F)
New and smaller firms are responsible for 95 percent of all radical innovations.
ANSWER: True
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One strong action that Yum! took to create a new culture was to ______.
A. start with a set of shared values B. choose the strongest CEO C. explain to the employees that things would not change D. keep a strict hierarchy for consistency
Warrior Dash Express Inc owns a moving van that originally cost $500,000 and currently has $450,000 of accumulated depreciation. The fair value of the moving van is $120,000 . Warrior Dash Express Inc exchanges the van plus $480,000 in cash for a new moving van costing $600,000 . The entry to record the transaction is as follows:
a. Equipment (new van) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600,000 Accumulated Depreciation (old van) . . . . . . . . . .. . . . . . . . . .450,000 Equipment (old van) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 480,000 Gain on Trade-in of Old Van . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000 b. Equipment (new van) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600,000 Accumulated Depreciation (old van) . . . . . . . . . .. . . . . . . . . .450,000 Equipment (old van) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 570,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 480,000 c. Equipment (new van) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600,000 Accumulated Depreciation (old van) . . . . . . . . . .. . . . . . . . . .380,000 Equipment (old van) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 480,000 d. Equipment (old van) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 480,000 Gain on Trade-in of Old Van . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000 Equipment (new van) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600,000 Accumulated Depreciation (old van) . . . . . . . . . . . . . . . . . . . . . . . . . 450,000 e. Equipment (old van) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 570,000 Cash . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 480,000 Equipment (new van) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600,000 Accumulated Depreciation (old van) . . . . . . . . . .. . . . . . . . . . . . . . . . 450,000
A fixed asset with a cost of $41,000 and accumulated depreciation of $36,500 is traded for a similar asset priced at $60,000. Assuming a trade-in allowance of $3,000, the recognized loss on the trade is
A) $3,000 B) $4,500 C) $ 500 D) $1,500
The fixed-period inventory system requires more safety stock than a fixed-quantity system because:
A) a stockout can occur during the review period as well as during the lead time. B) this model is used for products that have large standard deviations of demand. C) this model is used for products that require very high service levels. D) replenishment is not instantaneous. E) setup costs and holding costs are large.