Which characteristic is associated with the database approach to data management?
a. data sharing
b. multiple storage procedures
c. data redundancy
d. excessive storage costs
A
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Harkin Company purchased a building on a tract of land and allocated the entire cost of the purchase to building. Normally it depreciates buildings over 20 years using the straight-line method with zero residual value and does not depreciate land. Because of its accounting treatment of the purchase, Harkin's income before taxes for the next 20 years will be
a. overstated. b. understated. c. unaffected. d. in conformance with GAAP.
George owns three adjacent town houses in an upscale neighborhood. He sells one to Bernardo but gets him to promise to never sell the property to a woman or a poor person. This restriction is built into the deed George gives to Bernardo, along with a statement that the property is to revert to George if this promise is broken. Which of the following statements is true in this case?
A. This restriction is not enforceable because it is against public policy. B. This restriction is enforceable because it is built into the deed. C. This restriction is not enforceable because private restrictions only apply to the size and cost of the house. D. This restriction is enforceable because it does not effectively prevent the sale of the property to anyone else.
It is in the best interests of a company to base executive compensation on multiple performance measures
Indicate whether the statement is true or false
First Bank returns a check because it lacks a necessary indorsement. This action constitutes a dishonor of the check
a. True b. False Indicate whether the statement is true or false