Identify each of the following business activities 1 through 6 into the appropriate category a, b, and c. a. Operatingb. Investingc. Financing____ 1. Paid utilities expenses.____ 2. Withdrawal of funds by owners.____ 3. Purchase of land.____ 4. Sale of used equipment.____ 5. Borrowed money from a bank on a long-term note.____ 6. Paid employee wages. ____ 7. Received investment from owner.____ 8. Paid an amount due on a long-term bank loan.
What will be an ideal response?
1. A; 2. C; 3. B; 4. B; 5. C; 6. A; 7. C; 8. C
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Indicate whether the statement is true or false
Estimated useful life and legal life are synonymous terms when dealing with intangible assets
Indicate whether the statement is true or false
A young professor becomes obsessed with the latest release of Halo and completely loses sight of his research commitment to his colleagues, falling hopelessly behind schedule and consuming 80% of the department's computing budget. Addictive behavior notwithstanding, this sad tale would never have happened had:
A) Configuration controls been established. B) Trend monitoring been regularly performed. C) Design controls been appropriately deployed. D) Document control been conducted assiduously.
Zane Set Designs Company has received an award which entitles it to receive annual payments of $10,000 at the end of each year for the next ten years. Which of the following is used to calculate today's value of this award?
A) Present Value of $1 B) Present Value of an Ordinary Annuity of $1 C) Future Value of $1 D) Future Value of an Ordinary Annuity of $1