The FTC deception policy holds that failure to reveal certain information may be found to be deceptive
a. True
b. False
Indicate whether the statement is true or false
True
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Involuntary dissolution of a corporation that is ordered by the secretary of state if a corporation has failed to comply with certain procedures required by law is known as ________
A) judicial dissolution B) administrative dissolution C) cumulative dissolution D) liquidation
Procedural unconscionability is easier to prove in a commercial setting than when an individual consumer is involved
a. True b. False Indicate whether the statement is true or false
Eugene Co. has inventory it purchased for $6,000. It sells the inventory to a customer for $10,000, including installation. Installation sold separately costs $1,000 and the inventory sold separately costs $10,000. What amount of Service Revenue is recognized by Eugene for installation once it has been completed?
A. $1,000. B. $909. C. $10,000. D. $0, all the revenue is recorded as Sales Revenue since the installation was included in the contract.
A company purchased a delivery van on October 1 of the current year at a cost of $40,000. The van is expected to last six years and has a salvage value of $2,200. The company's annual accounting period ends on December 31.1. What is the depreciation expense for the current year, assuming the straight-line method is used?2. What is the book value of the van at the end of the first year?
What will be an ideal response?