Extraordinary repairs:
A) Are revenue expenditures.
B) Extend the useful life of an asset beyond its original estimate.
C) Are credited to accumulated depreciation.
D) Are additional costs of plants assets that do not materially increase the asset's life.
E) Are expensed when incurred.
B) Extend the useful life of an asset beyond its original estimate.
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Which of the following could not be used in job-order costing?
a. An average cost per unit for all jobs. b. Standards. c. Overhead allocation based on job's direct labor hours. d. Normal Costing.
Metro Finance Co. lends $100,000 to Joe Simms with a mortgage on his house as security. Simms defaults. Which of the following remedies, if any, does MetroFinance NOT have available to it?
A) sue on the covenant B) apply for sale of the property under judicial supervision C) apply for court order foreclosing Simm's interest in the property D) take possession of the property E) It can do any of the above.
An instructor using the ________ method can deliver a large quantity of information to more than one person in a relatively short time.
A. vestibule training B. classroom training C. cross-training D. apprenticeship
Automatic perfection would occur in which situation (assuming a written security agreement)?
A) Mandi buys a refrigerator for her apartment on credit. B) Glenn buys a computer for his office on credit. C) Hank buys a computer for his office by borrowing the money for the purchase. D) Cicely buys inventory for her home-based sewing business.