Please list three reasons why software has become more expensive than hardware.
What will be an ideal response?
Software has become more expensive than hardware for several reasons:
- Advances in hardware technology have resulted in dramatically reduced hardware costs.
- Increasingly complex software requires more time to develop, hence, it is more costly.
- Salaries for individuals who develop software have increased because of the increased demand for their skills.
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The document that shows all operating expenses, their classification as direct or indirect, their assignment or allocation to the departments, and the total operating expenses for each department is known as the
a. departmental operating expense summary. b. cash flow summary. c. income summary. d. gross profit summary.
Identify how each of the following items is shown on the statement of cash flows. Identify each as operating (O), investing (I), financing (F), or non-cash investing and financing (N).
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.
Incoterms are 11 trade terms that describe the responsibilities of the buyer and seller in international trade.
Answer the following statement true (T) or false (F)