Inland water carriers typically transport finished or semifinished products because of the lengthy in-transit time
a. True
b. False
Indicate whether the statement is true or false
False
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What are the effects on the accounting equation when a company makes the adjustment to record bad debt expense using the allowance method?
a. Assets and owners' equity increase. b. Assets and owners' equity decrease. c. Assets increase and owners' equity decreases. d. Assets decrease and owners' equity increases.
While the web offers tremendous opportunities for establishing international information systems (IS), global ISs are not without their challenges, both for B2B and _____ commerce.
Fill in the blank(s) with the appropriate word(s).
Songtress Company bought a machine on January 1 . 2012 . for $24,000, at which time it had an estimated useful life of eight years, with no residual value. Straight-line depreciation is used for all of Songtress' depreciable assets. On January 1 . 2014, the machine's estimated useful life was determined to be only six years from the acquisition date. Accordingly, the appropriate accounting change
was made in 2014 . Songtress' income tax rate was 40 percent in all the affected years. In Songtress' 2014 financial statements, how much should be reported as the cumulative effect on prior years because of the change in the estimated useful life of the machine? a. $0 b. $1,200 c. $2,000 d. $2,800
Executives at Acme Global are concerned that airline workers will go on strike and prevent shipments of products from reaching customers. However, the National Mediation Board is keeping airline management and labor in mediation to avoid a strike. The executives at Acme Global are relieved that the ______ limits the potential for strikes of airline workers.
A. Railway Labor Act of 1926 B. National Labor Relations Act of 1935 (Wagner Act) C. Labor Management Relations Act of 1947 (Taft-Hartley Act) D. Labor Management Reporting Disclosure Act of 1959