Flagler Corporation replaces a roof damaged in a hurricane. The new roof is purposefully designed to be stronger than the old one so that it will support the air conditioning equipment the firm plans to install. Which of the following is/are true?
a. Part of the expenditure represents repair and part represents improvement.
b. The expenditure represents repair, only.
c. The expenditure represents improvement, only.
d. The expenditure represents asset, only.
e. The expenditure represents expense, only.
A
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Which of the following statements is true about negotiations?
A. Negotiations are also known as sales presentations. B. Negotiating is not an expensive endeavor as it hardly requires people to spend time. C. If a customer is large or important enough, almost anything can be negotiated. D. Negotiations exclude people who are not part of a selling firm's sales department. E. Formal negotiations can take place with anyone who is classified as a buyer or user.
A departure from the cost basis of accounting may be necessary when the _________________________ of the inventory is less than its cost to the company
Fill in the blank(s) with correct word
The use of another CPA firm by an audit firm to perform part of the engagement on a client's subsidiary will require the audit firm to do which of the following?
a. Merge with the other CPA firm. b. Perform a peer review on the other CPA firm. c. Ensure the independence of the other CPA firm of the client. d. List the other firm in the footnotes to the client's financial statements.
A company that uses well-known celebrities to help sell its products is using ________ marketing
A) interactive B) internal C) social D) person E) organization