Present two arguments in favor of the use of accelerated depreciation
First, assets tend to be more productive in the early years of their useful life. According to the matching rule, more depreciation should be taken in those years in which productivity and revenues are highest. Second, an increasing repair and maintenance expense, combined with a decreasing depreciation expense, produces a fairly constant expense over the asset's life.
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The federal government agency with the ultimate authority to determine the rules in preparing statements for companies whose stock is sold to the public is the __________________________________________________
Fill in the blank(s) with correct word
Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4Freight charge for merchandise purchased$51.00?December 7Delivery charge for shipping to customer$75.00?December 12Purchase of office supplies$40.00?December 18Donation to charitable organization$59.00? If, in addition to these receipts, the petty cash fund contains $262.75 of cash, the journal entry to reimburse the fund on December 31 will include:
A. A debit to Transportation-In of $91. B. A credit to Office Supplies of $75. C. A credit to Cash of $237.25. D. A credit to Cash Over and Short of $12.25. E. A debit to Petty Cash of $91.
All of the following are ways to guard against groupthink except:
A. Assign a team member to play devil's advocate B. Encourage members to state objections and doubts C. Break into subgroups to work on the same problem, then share proposed solutions with the group D. Encourage objections by having the group leader endorse a particular course of action
Why must an agency research the problem it seeks to address? A) The agency must establish the purpose for any new rules proposed
B) The agency must present evidence that the regulation will accomplish its purpose. C) The agency must determine if the regulation will be cost effective. D) All of the above are reasons an agency must research the problems it is addressing.