Describe idea development.
What will be an ideal response?
An approach through which employees are asked as individuals and as groups to submit ideas for improving their own work, that of their units, or that of the agency.
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Remaz Corp purchased equipment at a cost of $220,000 in January, 2015 . As of January 1, 2016, depreciation of $160,000 had been recorded on this asset. Depreciation expense for 2014 is $50,000 . After the adjustments are recorded and posted at December 31, 2016, what are the balances for the Equipment and Accumulated Depreciation? Equipment Accumulated Depreciation
a. $220,000 $210,000 b. $220,000 $ 0 c. $160,000 $ 50,000 d. $120,000 $210,000
Outline the five controllable activities that relate to new systems development
Firms often acquire derivative instruments to hedge interest rate, exchange rate, commodity price, and other risks. U.S. GAAP and IFRS classify derivatives into which of the following categories?
a. Fair value hedges of a recognized asset or liability or of an unrecognized firm commitment, only. b. Cash flow hedges of an existing asset or liability or of a forecasted transaction, only. c. Nonhedging derivative, only. d. Fair value hedges of a recognized asset or liability or of an unrecognized firm commitment, cash flow hedges of an existing asset or liability or of a forecasted transaction, and nonhedging derivative. e. none of the above
When are product costs matched directly with sales revenue?
A. In the period immediately following the sale B. When the merchandise is sold C. When the merchandise is purchased D. In the period immediately following the purchase