In order for an asset to be depreciated in the year of purchase, it must be placed in service before year's end.
Answer the following statement true (T) or false (F)
True
Purchase of an asset is not sufficient. It must be put into use.
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In the case of direct involvement, a company that wants to enter a competitive market should ________
A) establish franchised outlets in the new market B) approach retailers selling substitute products in the new market C) approach retailers selling complementary products in the new market D) establish bonds with distributors or wholesalers in the new market
Souped Inc., a firm that manufactures ready-to-eat soups, offers incentives based on an employee's performance rating and the employee's compa-ratio. Which payment plan is exemplified in this scenario?
A. standard hour plan B. differential plan C. piecework plan D. skill-based plan E. merit pay
Ananda, over her objections, was required by her boss to do something that was significantly against her own values and societal norms. Her supervisor violated Ananda’s ______.
A. right of freedom of speech B. right of equal opportunity C. right to privacy D. right of freedom of conscience
You have decided that the correct course of action for you is to form a general partnership with your best friend, Ben. The two of you have known each other for several years and there is a high degree of trust and respect between you. Someone in your business class mentioned that you and Ben should probably develop a partnership agreement. Why is this a prudent course of action, and what is normally included in the partnership agreement?
What will be an ideal response?