For accounting purposes, depreciation refers to the ________
A) method of allocating the cost of a plant asset to expense it over its useful life
B) method of declining the market value of an asset to its book value
C) method of estimating an asset's current market value
D) process of selling a used asset
A
You might also like to view...
The Michael Company's stockholders' equity accounts have the following balances as of December 31, 2016: Common stock, $20 par (25,000 shares issued of which ? 2,000 are being held as treasury stock) $ 500,000 Additional paid-in capital 750,000 Retained earnings 2,250,000 ? $3,500,000 Less: Treasury stock (2,000 shares at cost) (120,000) ? Total stockholders' equity $3,380,000 ? On
January 2, 2017, the board of directors of Michael declared a 10% stock dividend to be distributed on February 15, 2017. The market price of Michael Company's common stock was $75 per share on January 2, 2017. On the date of declaration, the retained earnings account should be decreased by A) zero; only a memorandum entry is required. B) $50,000. C) $172,500. D) $187,500.
Which of the following types of decision-making takes place in situations that have occurred in the past and are familiar to the people dealing with them?
A. programmed decisions B. strategy decisions C. executive decisions D. nonprogrammed decisions
Customer service is needed when a customer wants the seller to resolve a problem with a purchase.
Answer the following statement true (T) or false (F)
A firm is said to gain a competitive advantage when it can
A. perform at the same level as that of its competitors. B. minimize the difference between value creation and cost. C. provide products similar to its competitors, but at lower prices. D. exceed its own previous performances.