Which sentence expresses numbers correctly?
A) You will have seven business days to renew your 12-month certificate of deposit.
B) You will have seven business days to renew your twelve-month certificate of deposit.
C) You will have 7 business days to renew your 12-month certificate of deposit.
C
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Distinguish between capital and revenue expenditures
Debbie acquired a franchise to operate a donut shop from Dollar Donuts, Inc, for $100,000. She incurred an additional $4,000 in legal costs to negotiate the terms with the franchiser. In five years, the franchise contract will be renegotiated. The current contract also states that there will be a $3,000 annual fee plus a two percent charge based on the store's annual revenue, which is expected to
average 90,000 per year. What is the franchise cost that should be capitalized? A) $88,000 B) $92,000 C) $100,000 D) $104,000
Which of the following is NOT an implication of the going-concern assumption?
a. The historical cost principle is credible. b. Depreciation and amortization policies are justifiable and appropriate. c. The current/noncurrent classification of assets and liabilities is justifiable and significant. d. Amortizing research and development costs over multiple periods is justifiable and appropriate.
Considering the residual value is zero, calculate the payback period. Round to one decimal place
Learn Safe Driving School is considering purchasing new autos costing $235,000. The company's management has estimated that the autos will generate cash inflows as follows: Year 1 $ 80,000 Year 2 $ 85,000 Year 3 $ 95,000 Year 4 $ 45,000