When a plant asset is disposed of, the business must ________.
A) immediately replace it
B) ensure that the plant asset is obsolete or worn out
C) comply with the conservatism principle and record losses but not gains
D) bring the depreciation up to date
D) bring the depreciation up to date
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Multinational firms following a transnational strategy strive to optimize the trade-offs associated with efficiency, local adaptation, and learning.
Answer the following statement true (T) or false (F)
Which of the following is a prepurchase service offered by retailers?
A) accepting orders over the telephone B) shipping the product C) delivery to the customer's doorstep D) general information E) interior decoration of the retail outlet
On June 3, Addison Company purchased merchandise worth $1,600 on credit, terms 2/10, n/30. The amount paid on June 15. What is the required journal entry to record the payment under the periodic inventory system?
A) Accounts Payable 1,568 Purchases Discounts 32Cash 1,600 B) Accounts Payable 1,600 Purchases Discounts 32Cash 1,568 C) Cash 1,600 Accounts Payable 1,600 D) Accounts Payable 1,600 Cash 1,600
Goods in transit shipped FOB destination should not be included in the buyer's ending inventory
Indicate whether the statement is true or false