Life cycle objects help to manage other objects

Indicate whether the statement is true or false


TRUE

Business

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On January 1 . 2013 . Pastel Colors Corporation purchased drilling equipment for $11,500 . The equipment has an estimated useful life of four years and a salvage value of $200 . Assuming that Pastel Colors uses the straight-line method of depreciation, if it trades the equipment for new equipment with a list price of $15,500 on December 31 . 2014, and pays $4,050 in the exchange, assuming the

exchange lacks commercial substance, the new equipment should be recorded at a. $15,500. b. $11,450. c. $9,850. d. $9,900.

Business

The _____________ a document, the more helpful an index becomes

a. newer b. more complex c. more important d. longer

Business

The ratio of outputs over inputs defines which concept?

a. Quality b. Productivity c. Efficiency d. Reliability

Business

Silas asks his friend Shelby to come to his property to go fishing at his pond. If he fails to warn her that the dock has a rotten spot and she falls through and is injured, Silas would be held liable in most states

a. True b. False Indicate whether the statement is true or false

Business