Which of the following rules is incorrect?
A) The accounting equation must always remain in balance.
B) Asset accounts are increased by debit entries and decreased by credit entries.
C) Expense accounts normally have debit balances.
D) Common stock accounts are increased by debit entries and decreased by credit entries.
D
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Wexford Co purchased a new delivery truck at the beginning of 2016 . The truck has a cost of $37,000, an estimated life of 5 years, and an estimated residual value of $7,000 . A full year's depreciation expense is to be recorded in 2016 . The truck was driven 20,000 miles during 2016 and 24,000 miles during 2017 . The number of expected miles over five years is 100,000. Refer to information for
Wexford Co Wexford's is comparing the straight-line and double-declining-balance depreciation methods. Of these two methods, which method creates the larger expense and larger tax savings in 2016? a. Straight-line depreciation creates the larger expense, while double-declining-balance depreciation creates the larger tax savings. b. Straight-line depreciation creates both the larger expense and the larger tax savings. c. Double-declining-balance depreciation creates both the larger expense and the larger tax savings. d. Double-declining-balance depreciation creates the larger expense, while straight-line depreciation creates the larger tax savings.
Which of the following is used for long-term purchases on multiple dates over a period of time?
A. blanket purchase order B. standard purchase order C. planned purchase order D. electronic purchase order
Photographs convey realism and ________________
a. truth b. authenticity c. accuracy d. objectivism
Gabriella was uncomfortable about giving a speech in class because she was ________ about her accent
A) apprehensive B) confident C) arrogant D) self-conscious