?Assume that two firms are both following generally accepted accounting principles. Both firms commenced operations two years ago with $1 million of identical fixed assets, and neither firm sold any of those assets or purchased any new fixed assets. The two firms would be required to report the same amount of net fixed assets on their balance sheets as those statements are presented to investors.
Answer the following statement true (T) or false (F)
False
Rationale: One firm might choose to use straight-line depreciation, the other an accelerated method, and this would lead to differences in reported depreciation and therefore reported net fixed assets.
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Paterson Inc is a business that purchases computers, printers, modems, fax machines, software, and telecommunications equipment from several manufacturers and markets them as complete (bundled) customized systems to small businesses to meet their
specific needs. What type of channel intermediary is Paterson Inc? A) wholesaler B) value-added reseller C) original equipment manufacturer D) sales agent E) distributor
Which of the following increases your moral motivation?
A. punish yourself for doing the wrong thing B. resist emotions C. seek out organizations that reward ethical behaviors D. all of these
The closing process takes place before financial statements have been prepared.
Answer the following statement true (T) or false (F)
Gloria, Angelica, and Roberto all work for Dr. Elena at Brite & Beautiful Dentistry. One day, Gloria was in the small parking lot behind the office and noticed a sizeable pool of water near the building, even though it had not rained recently. She and the others began to monitor the situation, and soon determined that they had a leak somewhere in the drainage pipes, so Roberto called a plumber. The plumber came out the next day, and though he agreed with their assessment that they had a leaky pipe, he could not find the exact spot where the water was leaking. Given that the pipes lay under concrete, digging them out would involve a great deal of time and expense-not to mention noise and dust. Then Angelica had an idea: since Dr. Elena, like many dentists, kept a small amount of
radioactive material on hand for making dental implants, they could release an extremely small portion through each of the sinks, toilets, and other drains in succession, then use a Geiger counter, which measures radioactivity, to locate the leak. Her coworkers scoffed, but Dr. Elena said it would be possible to release an amount of material too small to be harmful, but large enough to register on the Geiger counter. The plumber said it sounded like a good idea to him, and thanks to Angelica, within a little more than an hour's time, he had located the leak and was able to fix it with a minimum of trouble. In arriving at this solution, Angelica demonstrated one of the behaviors involved in adaptability, namely A. dealing with uncertain and unpredictable work situations. B. solving problems creatively. C. demonstrating interpersonal adaptability. D. learning work tasks, technologies, and work situations. E. handling emergencies or crisis situations.