Prepaid assets are valued on the balance sheet at
a. cost paid to acquire the asset.
b. acquisition cost less accumulated depreciation.
c. cost less expired portion.
d. replacement cost.
e. present value of future cash flows.
C
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Which of the following accounts is not closed to Income Summary at the end of the accounting period?
a. Rent Expense b. Service Revenue c. Unearned Revenue d. Supplies Expense
With a direct approach the writer opens with details and justification of the request, moves to the actual request and ends by requesting specific action
Indicate whether the statement is true or false.
A Web-Star salesperson is preparing a sales presentation for a British firm that is interested in purchasing Web conferencing software. What is the best advice for the salesperson?
A) Use aggressive sales techniques because British business people appreciate aggressiveness. B) Remind the prospect of the disadvantages of competing Web conferencing products. C) Immediately use first names with the prospect because British business people are informal. D) Focus on objective facts about the Web conferencing product during the sales presentation. E) Call the prospect frequently after the sales presentation to determine if a decision has been made.
According to the Federal Trade Commission's (FTC's) definition of deception, a representation, omission, or practice has materiality if it
A. is seen by a substantial number of consumers leading to significant injury. B. can be decoded to have several different meanings. C. uses superlatives and can be substantiated. D. can influence the consumers' decision-making process in a detrimental way. E. is likely to influence consumers' purchase decisions.