The direct cost incurred in using an asset for the purpose for which it was intended is termed as ________.
A. whole of life cost
B. cost of owning
C. cost of operating
D. cost of disposition
Answer: C
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When using the indirect method, how is the issuance of stock to retire a long-term debt shown on a statement of cash flows?
a. Operating activity b. Investing activity c. Financing activity d. Noncash investing or financing activity
The purchase of land is an example of a(n)
a. investing activity. b. operating activity. c. capital activity. d. financing activity.
Asset impairment occurs when the fair value of a long-term asset exceeds its carrying value
Indicate whether the statement is true or false
Habitat for Humanity
a. has eliminated direct mailings to donors and uses only electronic communication. b. relies on donor gifts of time, talent, and money. c. expects each donor to contribute both time and resources. d. uses a single method to persuade donors to contribute.