Answer the following statements true (T) or false (F)
1. Total asset turnover is calculated by dividing average total assets by net sales.
2. Edmond reported average total assets of $9,965 million and net sales of $10,430 million. Its total asset turnover equals .96.
3. An asset's cost includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use.
4. If a machine is damaged during unpacking, the repairs are added to its cost.
5. The purchase of a property that included land, building, and related improvements is called a lump-sum or basket purchase.
1. FALSE
2. FALSE
3. TRUE
4. FALSE
5. TRUE
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Which of the following is a criticism of authentic leadership?
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