Which of the following can be used as a defense in a negligence case?
A) assumption of the risk
B) disparagement
C) appropriation
D) conversion
A
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To change organizational culture, any organizational sustainability training program must begin ______.
A. at the bottom, grassroots level B. everywhere at once C. at the top, with executives and managers D. with middle management
Email is very beneficial in business communication when it used correctly. Give four guidelines for formatting professional email messages
Financial statement fraud is considered when someone knowingly makes material misrepresentations of fact with the intent of making someone believe the falsehood and suffer a loss as a result of acting upon that falsehood. Which of the following would be considered fraud?
A) Transferring non-performing assets at historical values to a non-consolidated subsidiary. B) Increasing the returns allowance as a result of unusually high sales near year end. C) Employee theft from petty cash. D) Purchasing several months' supply of office supplies in order to qualify for a large volume discount.
A company traded an old forklift for a new forklift, receiving a $13,500 trade-in allowance 132 Copyright ©2018 McGraw-Hill and paying the remaining $47,200 in cash. The old forklift had cost $43,000, a 5-year useful life and a $5,000 salvage value. Straight-line accumulated depreciation of $27,200 had been recorded as of the exchange date.
1. What was the book value of the old forklift on the date of the exchange? 2. What amount of gain or loss (indicate which) should be recognized in recording the exchange, assuming the transaction has commercial substance? 3. What amount should be recorded as the cost of the new forklift?