UPS plans its truck routes with the fewest possible right turns
Indicate whether the statement is true or false
FALSE
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Identify and explain the two primary objectives of financial statements and the two secondary objectives of financial statements.
What will be an ideal response?
At its inception, Peacock Company purchased land for $50,000 and a building for $220,000. After exactly 4 years, it transferred these assets and cash of $75,000 to a newly created subsidiary, Selvick Company, in exchange for 25,000 shares of Selvick's $5 par value stock. Peacock uses straight-line depreciation. When purchased, the building had a useful life of 20 years with no expected salvage value. An appraisal at the time of the transfer revealed that the building has a fair value of $250,000.Based on the information provided, what amount would be reported by Peacock Company as investment in Selvick Company common stock?
A. $250,000 B. $345,000 C. $301,000 D. $125,000
Which of the following is an attribute of traditional costing systems?
A) raw materials are ordered in large quantities B) production is completed in self-contained work cells C) suppliers make frequent deliveries of small quantities of raw materials D) management works with suppliers to ensure defect-free raw materials
Martin, a U.S. citizen, feels that a recently enacted federal law is unfair. He assembles a group of friends and they write a petition to the government. Martin and friends then stand quietly in front of the White House with signs declaring their belief that the law is unfair. Under the First Amendment, Martin has a right to
a. petition the government, but not to assemble a group peaceably. b. assemble peaceably, but not to petition the government. c. both petition the government and assemble peaceably. d. neither petition the government nor assemble peaceably.