Capitalizing an expenditure rather than recording it as a revenue expenditure:
A) impacts the total book value of plant assets reported on the balance sheet and the amount of net income reported during a period.
B) impacts the total book value of plant assets on the balance sheet, but has no effect on the amount of net income reported during an accounting period.
C) impacts the amount of net income reported during an accounting period, but has no effect on the total book value of plant assets on the balance sheet.
D) has no impact on the book value of plant assets on the balance sheet or the amount of income reported on the income statement.
A
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An $800 debit item is accidentally posted as a credit. The trial balance column totals will therefore differ by
A) $0 B) $400 C) $800 D) $1,600
Describe the four types of plagiarism discussed in the textbook.
What will be an ideal response?
In a make or buy decision, the reliability of a potential supplier is
a. an irrelevant decision factor. b. relevant information if it can be quantified. c. an opportunity cost of continued production. d. a qualitative decision factor.
Which of the following is an example of cash?
a. Commercial paper b. Certificates of deposit c. Travelers checks d. Treasury bills