All of the following would be reported retrospectively by restating prior period's financial results except
A) change from the completed-contract method to the percentage-of-completion method for long-term construction contracts.
B) correction of an error in previous periods.
C) change from LIFO to FIFO.
D) change from the straight-line depreciation method to the sum-of-the-years'-digits method.
D
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Debbie acquired a franchise to operate a donut shop from Dollar Donuts, Inc, for $100,000. She incurred an additional $4,000 in legal costs to negotiate the terms with the franchiser. In five years, the franchise contract will be renegotiated. The current contract also states that there will be a $3,000 annual fee plus a two percent charge based on the store's annual revenue, which is expected to
average 90,000 per year. What is the franchise cost that should be capitalized? A) $88,000 B) $92,000 C) $100,000 D) $104,000
Which of the following is true of operating systems?
A. Operating systems are not expected to function if the user makes a mistake. B. Operating systems based on UNIX are known to be unstable. C. Windows operating systems are considered to be more user-friendly than Mac operating systems. D. Stable operating systems do not cause acomputer to freeze or produce error messages.
In the context of principle-based ethics, rights and duties are correlated.
Answer the following statement true (T) or false (F)
Define natural reward strategies and give one example natural reward strategy.
What will be an ideal response?