The cost flow method chosen must match the actual physical flow of the goods.
Answer the following statement true (T) or false (F)
False
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On January 1, Year 1, Milton Manufacturing Company purchased equipment with a list price of $28,000. A total of $2200 was paid for installation and testing. During the first year, Milton paid $3300 for insurance on the equipment and another $610 for routine maintenance and repairs. Milton uses the units-of-production method of depreciation. Useful life is estimated at 100,000 units, and estimated salvage value is $4400. During Year 1, the equipment produced 12,000 units. What is the amount of depreciation for Year 1?
A. $3096 B. $3565 C. $4020 D. $3492
Vijay Menon is a chemical engineer working for Mega Labs Ltd., an international pharmaceutical company, developing a machine designed to analyze chemicals in the blood
The aim of the project is a machine which can analyze up to three chemicals simultaneously. Working on his own time in his laboratory at home, Vijay was able to develop a machine which can analyze six chemicals simultaneously. He applies for patent. Which of the following is true? A) There is no reason why Vijay should not be issued a patent B) This invention is not patentable because it is a device used for a medical purpose. C) Vijay cannot apply for a patent without a patent agent D) If the patent is issued, it will belong to Mega Labs. E) Vijay should be seeking copyright, not patent protection
A financial guarantee ensures that the lender (bond purchaser) will be paid both principal and interest in the event the issuer defaults
Indicate whether the statement is true or false
Section 3(a) of the Model Employment Termination Act (META) protects employees from wrongful termination from employment and states that:? A) ?an employer may not terminate employment of an employee without good cause
B) ?an employer can terminate employment of an employee with perverse reason. C) ?an employer cannot terminate an employee without government consent. D) ?an employer may not terminate an employee from work without court order.