Sales efforts and orders peak near the end of any month, quarter, or other evaluation period. This is commonly referred to as
A) the hockey stick phenomenon.
B) the student syndrome.
C) Murphy's Law.
D) the Central Limit Theorem.
Answer: A
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An auditor typically sets inherent risk for intangible assets at this level:
A. moderate. B. high. C. zero. D. low.
The ratio of net sales to assets is calculated as ________
a. Net Sales / Total Assets b. Average Total Assets / Net Sales c. Current Assets / Current Liabilities d. Net Sales / Average Total Assets
The ethical norm of ________ includes achieving the psychological condition of self-confidence such that risks are welcomed
A) freedom B) security C) justice D) efficiency
On January 1, 2016, a company disposed of equipment for $16,200 cash that had cost $35,000, a salvage value of $5,000, and a useful life 10 years. The double-declining-balance depreciation method was used. On December 31, 2015, accumulated depreciation was $20,664. Prepare a journal entry to record the disposal of the equipment.
What will be an ideal response?