The issuance of stock is reported as a financing activity
a. True
b. False
Indicate whether the statement is true or false
True
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A company purchased new furniture at a cost of $16,000 on September 30. The furniture is estimated to have a useful life of 5 years and a salvage value of $2200. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the furniture for the first year ended December 31?
A. $3110 B. $910 C. $690 D. $230 E. $800
Although a stapler that costs $15 is a long-term asset, can be expensed because the amount is immaterial and will not affect anyone's decision making
Indicate whether the statement is true or false
Bringing pride to a city or region is an intangible contribution that an organization makes
Indicate whether the statement is true or false
Taking advantage of a 2/10, n/30 purchases discount is equal to a savings yearly rate of approximately
A) 2% B) 24% C) 20% D) 36%