Compute the missing value
a. 100 cars were sold in October, but only 80 cars were sold in November. The rate of decrease was ______.
b. Start with $115; increase by 40%; end up with ______
c. An increase by $6.40 is 16% of the base value ______.
a. 20%
b. $161
c. $40
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Under the MACRS system, the same convention that applies in the year of acquisition (e.g., half-year, mid-quarter, or mid-month) also applies in the year of disposition.
Answer the following statement true (T) or false (F)
It is common for long-term asset accounts to show a decrease in the net balance from year to year
Indicate whether the statement is true or false
Which of the following statements is not true about the automobile, and automobile parts and accessories, online retail category?
A. Most of the revenue in this category is generated from the sales of automobiles. B. Automobile manufacturers use the Internet to deliver branding advertising. C. U.S. franchising law prohibits automobile manufacturers from selling cars directly to consumers. D. Automobile retailing is dominated by dealership networks.
Sparkling Pools received a bill for $1,200 for running newspaper ads during the last two weeks of July; the bill will be paid on August 1. Advertising Expense should be:
A. credited for $1,200 in July. B. debited for $1,200 in July. C. credited for $1,200 in August. D. debited for $1,200 in August.