A substantial amount spent to improve the quality or extend the life of a long-term asset is called a revenue expenditure.

Answer the following statement true (T) or false (F)


False

Substantial amounts spent to improve the quality or extend the life of an asset are described as capital expenditures.

Business

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The normal balance of revenue is a(n)_____________

Fill in the blank(s) with correct word

Business

Equipment is purchased for $80,000 . It has an eight-year useful life and a $39,250 residual value. Under the double-declining-balance method, what is the depreciation expense for year 3?

a. $11,250 b. $5,250 c. $5,750 d. $6,250

Business

An employer is charged with the knowledge of any dangerous condition discovered by an employee and pertinent to the employment situation

Indicate whether the statement is true or false

Business

Persistent, large current account deficits are often associated with currency crises for floating rate currencies in which the currency with the crisis ________ substantially

A) appreciates B) devaluates C) depreciates D) revaluates

Business