When a company sells a piece of equipment or land, any gain (sales price less the book value of the

asset or residual value) is thought to be a capital gain.

Indicate whether the statement is true or false


FALSE

Business

You might also like to view...

Guido and Hal want to rescind their contract under which Guido sold Hal a mountain bike for $100. To rescind the contract A) Guido must return the $100 and Hal must return the bike

B) Guido must return the $100 only. C) Hal must return the bike only. D) the parties can keep the "benefits" of their bargain.

Business

True or False Control charts are available for individual observations, moving averages, and moving ranges

Indicate whether the statement is true or false

Business

In federated identity management, firms do not query one another's identity management databases

Indicate whether the statement is true or false.

Business

Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January. Units Percent Complete withRespect to ConversionBeginning work in process inventory 5,100   70%Transferred in from the prior department during January 59,000     Completed and transferred to the next department during January 56,800     Ending work in process inventory 7,300   40%The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $34,558 and a total of $559,254 in conversion costs were incurred in the department during January. The cost per equivalent unit for conversion

costs for January in the Molding Department is closest to: A. $9.680 B. $8.435 C. $9.479 D. $9.943

Business