Gaining unauthorized access to an electronic fund transfer system constitutes a federal felony.
Answer the following statement true (T) or false (F)
True
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On January 1, 2016, the Mills Car Repair Company acquired equipment at a cost of $55,000. At that time, the equipment was estimated to have a residual value of $5,000 at the end of an estimated five-year service life. During 2016 and 2017, the company recorded straight-line depreciation on the equipment.
Required: Prepare all the journal entries for 2018 relating to the equipment for each of the following independent situations (ignoring income taxes): ? a. Assume that the company switched to sum-of-the-years'-digits depreciation at the beginning of 2018 with a new estimated remaining life of four years. b. Assume, instead, that at the beginning of 2018, the equipment is determined to have a five-year remaining service life. Straight-line depreciation will still be used. c. Assume, instead, that at the beginning of 2018 the company discovered that it had erroneously ignored the estimated residual value in the computation of its depreciation for 2016 and 2017. What will be an ideal response?
Although the general rule for transfer prices is the outlay cost plus opportunity cost, many companies instead use negotiated prices to price their goods and services. When are negotiated transfer prices used? Are such prices consistent or inconsistent with responsibility accounting? Explain.
What will be an ideal response?
Del Monte Foods, a large corporation that manages many family food and pet food brands, sells the Contina brand of canned tomato products to supermarkets across the country. Contina is an example of a(n) ________
A) organizational brand B) support brand C) private label brand D) reseller brand E) manufacturer brand
Which of the following is a law stating that performance increases with increasing stress to an optimum point, after which stress becomes too much and performance declines?
A. Shannon-Weaver law B. goal attainment law C. challenge-related law D. Yerkes-Dodson law