Which of the following statements about assertions is true?
a. All assertions are equally important for all accounts.
b. The importance of an assertion depends upon the account.
c. Assertions are not related to accounts.
d. None of the above.
b
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The great majority of business and individual software is open source, that is, software that is developed and sold for profit.
Answer the following statement true (T) or false (F)
Pacific Green Company is considering buying a unique bar-coding machine to help them track their plant inventory. They are using the payback period and accounting rate of return methods to evaluate the purchase. They will consider the project further if the payback period is less than four years and it has a minimum accounting rate of return of 7%. Relevant information on the machine is as follows:Acquisition cost = $48,000Expected salvage value = $0Expected annual cash inflow benefits = $13,000 per year for 5 yearsExpected useful life = 5 yearsRequired: Compute the payback period and ARR. Advise GPC on their appropriate action.
What will be an ideal response?
How should intangible assets be disclosed on the balance sheet?
A) As a reduction of stockholders' equity B) At cost in the current assets section C) At the estimated market value at the balance sheet date D) Net of the costs already amortized
Do entrepreneurs mean the end of bureaucratic organization and the rise of creative individuals?
a. Yes, entrepreneurs get rid of bureaucracy b. No, entrepreneurs love bureaucracy c. Yes, entrepreneurs manage through the projection of their incredible personal charisma d. No, any successful business needs some form of bureaucracy