The trend of proliferation of information will provide greater opportunities for database services, artificial intelligence systems, and other services that facilitate the storage and transfer of knowledge
Indicate whether the statement is true or false
TRUE
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On January 1, Year 3, Dartmouth Corporation paid $18,000 for major improvements on a two-year-old manufacturing machine. Although the expenditure did not change the expected useful life, it greatly increased the productivity of the machine. Prior to this transaction, the machine account in the general ledger was listed at $84,000, and the accumulated depreciation account was $20,000. Dartmouth uses the straight-line method. The estimated useful life was six years, and the estimated salvage value was $4,000.Required: a) Prepare the entry in general journal form for the January 1, Year 3 transaction.b) Immediately after the January 1, Year 3 transaction, what is the book value of the asset on Dartmouth books?c) Compute the depreciation for the machine for Year 3.
What will be an ideal response?
Which of the following is usually not part of an ERP's OLAP applications?
a. Logistics b. decision support systems c. ad hoc analysis d. what-if analysis
If an equipment replacement decision would not affect revenue, its benefits could still be measured by analyzing its
a. cost savings. b. net cash flows. c. effect on net income. d. net cash outflows.
Which of the following best describes accounting?
A) records economic data but does not communicate the data to users according to any specific rules B) is an information system that provides reports to users C) is of no use by individuals outside of the business D) is used only for filling out tax returns and for financial statements for various type of governmental reporting requirements