Factors contributing to a decline in the usefulness of a fixed asset may be divided into the following two categories

a. functional and residual
b. salvage and functional
c. physical and functional
d. residual and salvage


c

Business

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The office manager forgot to record in the accounting records the daily bank deposit. Which control procedure would most likely prevent or detect this error?

a. segregation of duties b. independent verification c. accounting records d. supervision

Business

Revenues

A) are decreases in equity resulting from rendering services. B) are a cost of doing business. C) are called expired costs. D) are earned through the sale of goods, even though the cash may not be collected until later.

Business

Current position analysis indicates a company's ability to liquidate current liabilities

Indicate whether the statement is true or false

Business

Personal artifacts in the office can be ______.

A. identity claims B. strategic forms of communication C. deceptive D. all of these are correct

Business