On January 1, 2016, ABC, Inc purchased a copier for $9,000 cash and decided to depreciate it over 5 years. What amounts associated with the copier will appear on ABC's financial statements for the year ending December 31, 2016? Income Statement Statement of Cash Flows
a.
($1,800) ($9,000)
b.
($1,800) $ 0
c.
($9,000) $ 0
d.
None of these choices.
a
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An auditor's analytical procedures performed during the overall review stage indicated that the entity's accounts receivable balance had doubled since the end of the prior year. However, the allowance for doubtful accounts as a percentage of accounts receivable remained about the same. Which of the following explanations most likely would satisfy the auditor?
A. The entity liberalized its credit standards in the current year and sold much more merchandise to customers with poor credit ratings. B. The entity opened a second retail outlet in the current year and its credit sales approximately equaled the older, established outlet. C. A greater percentage of accounts receivable were currently listed in the "more than 90 days overdue" category than in the prior year. D. Twice as many accounts receivable were written off in the prior year than in the current year.
In determining whether a system is adequately protected from attacks by computer viruses, all of the following policies are relevant except
a. the policy on the purchase of software only from reputable vendors b. the policy that all software upgrades are checked for viruses before they are implemented c. the policy that current versions of antivirus software should be available to all users d. the policy that permits users to take files home to work on them
______ reading requires that you write a text in full and deliver it word for word, but you need not commit the text to memory.
Fill in the blank(s) with the appropriate word(s).
The product life-cycle concept from microeconomics and marketing provides useful insights into the relations among cash flows from operating, investing, and financing activities. During the _____, weakening profitability—from reduced sales or reduced profit margins on existing sales— signals the beginning of the phase, but ever-declining accounts receivable and inventories can produce
positive cash flow from operations. In addition, sales of unneeded property, plant, and equipment can result in positive cash flow from investing activities. Firms can use the excess cash flow to repay remaining debt or diversify into other areas of business. a. introduction phase b. growth phase c. mature phase d. late maturity phase e. decline phase