Perceived value is always relative
Indicate whether the statement is true or false
TRUE
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A fixed asset with a cost of $41,000 and accumulated depreciation of $36,500 is traded for a similar asset priced at $60,000. Assuming a trade-in allowance of $3,000, the recognized loss on the trade is
A) $3,000 B) $4,500 C) $ 500 D) $1,500
Which of the following is a correct statement with regard to differences between IFRS and U.S. GAAP?
A. Reporting past service cost for defined benefit pension plans is a measurement difference. B. Reporting LIFO inventory is a presentation difference. C. Reporting development costs is a classification difference. D. Reporting a bank overdraft that is an integral part of a cash management policy is a recognition difference. E. Reporting convertible debt is a recognition difference.
Advantages of debt financing over equity financing are that:
A. repayment of debt principal is optional. B. interest payments on debt are not tax deductible. C. more money is available. D. control is not diluted.
Column qualifiers must be included in the WHERE clause if the columns used to join the tables have the same column names
a. True b. False Indicate whether the statement is true or false