In January 2014, Shone Company exchanged an old machine, with a book value of $156,000 and a fair value of $140,000, and paid $40,000 cash for a similar used machine having a list price of $200,000 . The exchange had commercial substance. At what amount should the machine acquired in the exchange be recorded on Shone's books?
a. $200,000
b. $196,000
c. $184,000
d. $180,000
D
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What two competitive strategies typically cannot work in tandem?
a. cost leadership and focus strategy b. differentiation and cost leadership c. differentiation and focus d. focus and analyzing
Which statement about the management plan is INcorrect?
a. Potential investors are generally more interested in the financial plan than the management plan. b. Some needs for management talent can be met through a board of directors or an advisory board. c. The plan should identify necessary managerial skills and how managerial activi-ties will be organized into positions. d. When you create a business plan, the complete management team may be un-known. e. It should open with a restatement of key management roles and requirements.
An electronic funds transfer system ________
A) does not include debit card transactions B) is seldom used by businesses C) transfers cash by electronic communication rather than by paper documents D) uses forms such as checks and deposit tickets to transfer cash
Every transaction increases at least one account and decreases at least one account.
Answer the following statement true (T) or false (F)