Chris owns Comfy Cabins Campground. In his accounting records, he lists the cabins at their current market value. Which principle is Chris violating?
A) Value entity
B) Cost
C) Reliability
D) Business entity
B) Cost
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On January 1 . 2013 . Canal Locks Corporation purchased drilling equipment for $11,500 . The equipment has an estimated useful life of four years and a salvage value of $200 . Given this information, if Canal uses the sum-of-the-years'-digits method of depreciation and then trades the equipment for new equipment with a fair market value of $16,000 on December 31 . 2014, and pays $8,000 cash in
the exchange, assuming the exchange has commercial substance, the new equipment should be recorded at a. $16,000. b. $12,475. c. $11,590. d. $8,110.
In communication, the ________ network is the most effective for teams handling complex tasks.
A. circle B. wheel C. Y and wheel D. all-channel E. Y
The correlation between scores from Time 1 and Time 2 is called _______.
a.Test–retest reliability b.Parallel forms reliability c.Internal consistency reliability d.Similar forms reliability
The face value of a note is $1,250 with an interest rate of 13%. The time is based on 180 days in a 360-day year. The note has been discounted at 17% two months before the maturity of the note. What are the proceeds?
A) $1,293.53 B) $1,285.42 C) $1,277.08 D) $1,250.00