Both the initial cost of the asset and the accumulated depreciation will be taken off the books with the disposal ofthe asset
a. True
b. False
Indicate whether the statement is true or false
True
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A characteristic of a process cost accounting system is:
a. Costs are accumulated by order. b. Work in process inventory is restated in terms of equivalent production. c. It is used by a company manufacturing custom machinery. d. None of these is correct.
Which of the following is/are not true?
a. Firms may issue capital stock (preferred or common) for cash or for noncash assets. b. Firms usually issue shares for cash at the time of their initial incorporation and at periodic intervals as they need additional shareholder funds. c. Firms sometimes issue shares to employees as compensation. d. The issue price for preferred stock usually approximates its par value. e. none of the above
If a manufacturer ships merchandise to a retailer on consignment, the unsold merchandise should be included in the inventory of the
A) consignee B) retailer C) manufacturer D) shipper
Indicate the correct form of the verb in parentheses. They (present perfect tense of develop) a new translating application for cell phones