im positive it is true.
Explanation:
Answer:
True
No child let behind legislation is the current reauthorization of the Elementary and Secondary Education Act of 1965
Explanation:
In 2002 No child left behind was passed by Congress as a reauthorization of the elementary and secondary act of 1965. It included provisions for disadvantaged students, as well as support for the reform of standard-based education following the ide that setting high standards and establishing tangible goals could improve the educational environment and its effect on students.
If the Fed engages in an open market sale with a bond dealer, the bond dealer's bank's transactions deposits liabilities will ________ and the money supply will ________.
a) increase; decrease
b) increase; increase
c) decrease; decrease
d) decrease; increase
Answer:
The correct answer is option c.
Explanation:
If the Federal bank sells securities to a bond dealer, the dealer will need to pay back the Fed. This will cause a reduction in the dealer's bank's transaction deposits liabilities.
A reduction in deposits liabilities will further cause a reduction in the total reserves of the bank. Consequently, it will cause a decrease in the money supply. In this way, the federal reserve bank can curb inflationary pressures.
"If a real estate professional says to a potential seller that the neighborhood is ""changing"" and ""isn't what it used to be,"" that message may be considered blockbusting.
A. True
B. False"
Answer: True
Explanation: Blockbusting refers to the techniques used by the real agents in America. In general the agents and the builders use this for white house owners. The agents while using this, tries the owners that the racial communities are moving to the neighborhood and it would not be safe for them.
In simple words, they use the perception of racism so that they can get the property at relatively cheaper prices.
Thus, from the above we can conclude that the given statement is true.
__________ have an increasingly important role in top management because of their ability to think strategically, bringing with them to the job multi-industry backgrounds, cross-functional management expertise, analytical skills, and intuitive marketing insights.
a) Chief Marketing Officers (CMOs).
b) Chief Financial Officers (CFOs).
c) Chief Executive Officers (CEOs).
d) Chief Human Resource Officers (CHROs).
e) Chief Operating Officers (COOs)
Answer:
The correct answer is a) Chief Marketing Officers (CMOs).
Explanation:
Chief marketing Officers determine the demand for the products and services offered by a company and its competitors, and identify potential customers. They develop pricing strategies with the objective of maximizing the benefits of the company or its participation in the market, while ensuring the satisfaction of the company's customers. They monitor product development or follow trends that indicate the need for new products and services.
In companies that manufacture products or are dedicated to the provision of services, marketing directors have to decide the best way to promote themselves to increase sales. Marketing departments are often involved in different aspects of this process, from advertising market research, to public relations, events and sponsorships.
Chief Marketing Officers (CMOs) have an increasingly important role in top management due to their strategic thinking abilities and diverse backgrounds. Option a is correct.
Explanation:
The correct answer is a) Chief Marketing Officers (CMOs). Chief Marketing Officers have an increasingly important role in top management because of their strategic thinking abilities and their multi-industry backgrounds. They bring with them cross-functional management expertise, analytical skills, and intuitive marketing insights. This combination of skills and experience allows CMOs to effectively contribute to the overall business strategy and success.
Critical contributors to the broadening mission of marketers include the Internet and evolving distribution models, which are profoundly changing the way consumers research and buy products. In addition, third parties such as bloggers and the creators of user-generated media are having a greater influence on corporate reputations. Finally, marketers must help companies find and meet the unique needs of an ever more diverse and global customer base. Taken together, these forces are making companies transform not just the marketing function but also everything from corporate affairs and product development to distribution and manufacturing models.
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When a business asks "What business are we in?" they are: a. conducting an environmental analysis. b. defining their business mission. c. writing a marketing plan. d. determining how many SBUs to create.
Answer:
B. Defining their business mission.
There are two producers of wagon wheels that together are the exclusive providers to a large community. The executives of these companies meet to set minimum prices and production levels, thereby ensuring that they each will make a higher profit than they would in a free market. This is an example of a(n) ___________.
Answer: Oligopoly
Explanation: In simple words, oligopoly refers to a market structure in which the market is dominated by small number of large buyers. The activities of one firm in such a market affects the other participants as well. Automobile industry is one of the many examples of oligopoly.
In the given case, the two producers are willing to share the market individually so that they can enjoy better amount of profits. Also they are arranging to set prices as per each others opinions so that no one looses.
Hence from the above we can conclude that the given case illustrates oligopoly.
Point-of-purchase displays in grocery stores, coupons, premiums, and trial-size packages are most useful when the consumer is near the _____ stage of the AIDA model.
a. liking
b. awareness
c. action
d. preference
e. knowledge
Answer: (C) Actions
Explanation:
The AIDA model is basically refers to the longest serving model that is basically used in the field of marketing. It basically used to describe the sequence of the events that basically occur when the customer are completely aware about the services and products.
AIDA model basically stands for the awareness, interest, desire and the action. So many consumers are aware about the product brands and near to their action stage in the AIDA model. It is also known as sales promotion techniques.
Investment bankers who join together to share the financial risk associated with buying an entire issue of new securities and reselling them to the public is called a(n)A) selling group.B) tombstone group.C) underwriting syndicate.D) primary market group.
Answer:
C.
Explanation:
Syndicate is a group of investment banks that work together to sell new security offerings to investors. The underwriting syndicate is led by the lead underwriter.
The issuing firm may decide that several underwriters are needed to underwrite the equity.
The size of the syndicate varies.
The primary underwriter is designated the Lead underwriter.
The lead underwriter allocates portions of the offering to syndicate members.
Syndicate members may be lead underwriters on other offerings, so the relationships are frequently based on equal stature in terms of mutual respect.
A company had purchased $10,000 of inventory in the month of January, took advantage of purchase discounts of $500, and paid $1000 to have the goods shipped to their factory. They paid $250 to insure the inventory against fire and spent $750 to store the inventory. The company did not return any of the inventory they purchased. What is the company's 'net purchases' for the month of January?
Answer:
The company's net purchases for the month of January is $11,500
Explanation:
Item description Amount ($)
Purchase price 10,000
Less: purchase discount -500
Add: purchasing related costs
Shipping costs +1,000
Fire insurance +250
Inventory storage costs +750
Net purchases 11,500
Gains are: a) Inflows from selling a product or service to a customer b) Increases in equity resulting from transfers of assets to the company from owners. c) Increases in equity from peripheral transactions of an entity d) None of these is correct.
Answer:
C) Increases in equity from peripheral transactions of an entity
Explanation:
A) Is the description of Revenue
B) Social capital increase
Final answer:
Gains are increases in equity from peripheral transactions of an entity, differentiating them from revenue, which comes from core business operations.
Explanation:
The correct answer to the question is option c) Increases in equity from peripheral transactions of an entity. Gains are distinct from revenue, which is the income from the company's core business activities. Revenue is generated from selling products or services that are the primary operations of the business. On the other hand, gains are recognized from transactions that are not part of the core business activities, such as selling an asset for more than its carrying amount. These gains lead to an increase in equity but are considered peripheral or incidental to the main business.
Options a) and b) describe revenue generation and contributions from owners to the business respectively, neither of which correctly defines gains. It's crucial in accounting to differentiate between regular operational income (revenue) and gains from non-operational sources as it affects the analysis of a company's financial health and performance.
How much money would you have to pay each year in 8 equal payments, starting 2 years from today, to repay a $20,000 loan received from a relative today, if the interest rate is 8% per year?
Answer:
The annual payment is $3,758.72
Explanation:
Amount borrowed = $20,000
Annual Interest Rate = 8%
Number of payments = 8
Let annual payment be $R
$20,000 = $R/1.08^2 + $R/1.08^3 + $R/1.08^4 + $R/1.08^9
$20,000 = (1/1.08) ×[$R/1.08 + $R/1.08^2 + $R/1.08^3 + $R/1.08^8]
$20,000 = (1/1.08)×$R×(1 - (1/1.08)^8) / 0.08
$20,000 = $R×5.32096
$R = $ 3,758.72
Therefore, the annual payment is $3,758.72
Hydralicious, a juice outlet, had to stop its business as health inspectors found that the storage facilities at the outlet did not meet the standards set by the government. In this scenario, a(n) _____ factor affected Hydralicious's business.
Answer:
legal
Explanation:
According to my research on health inspection requirements, I can say that based on the information provided within the question In this scenario, a legal factor affected Hydralicious's business. This is because by the laws of the United States Government a business cannot legally continue to operate until it passes a full health inspection of the facilities and receives the approval by the qualified health inspector to continue operations. Therefore it is a legal matter.
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What are the primary assets of credit unions?
A. Mortgages comma stocks comma bonds comma and real estate.
B. Car loans and consumer debt comma business loans comma government securities comma mortgages.
C. Consumer debt and long minus term mortgages.
D. Short minus term credit instruments such as large CDs and Treasury bills.
Answer:
The correct answer is B.
Explanation:
Savings and credit cooperatives or, simply, credit cooperatives are cooperative societies whose corporate purpose is to serve the financial needs of their members and third parties through the exercise of the activities of credit institutions.
Savings and credit cooperatives are also known for their acronym in English, SACCO: Savings and Credit Cooperative.
These cooperatives are usually local and seem to be more suited to rural areas. Above all they have access to external funds and they are properly managed. And although there is a World Council of Credit Unions (WOCCU) there are few local or rural cooperatives associated with it.
The primary assets of credit unions typically encompass a range of loans like car loans, business loans, and mortgages, along with consumer debt and government securities. They do not generally include stocks or bonds.
Explanation:The primary assets of credit unions encompass a range of financial products and services that members can use. While the holdings can vary among different credit unions, the primary assets can be noted as a combination of various loans (mortgages, car loans, business loans), and consumer debt. They also include other financial instruments such as government securities, but not typically stocks or bonds as these are generally not owned by credit unions. Hence, among the given choices, option B, 'Car loans and consumer debt, business loans, government securities, mortgages', most accurately describes the primary assets of credit unions.
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Which of the following is income that includes all changes in stockholders' equity during a period except those resulting from investments by stockholders and distributions to stockholders?
a. Net income.
b. Income from continuing operations.
c. Comprehensive income.
d. Sustainable income.
Answer:
c. Comprehensive income.
Explanation:
According to my research on different investment strategies, I can say that based on the information provided within the question the term being described is called Comprehensive Income. Like mentioned in the question this type of income includes all changes in equity during a period except those resulting from investments by owners of the stocks and distributions to those owners (dividends).
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Comprehensive income is the correct term for income that includes all changes in stockholders' equity during a period except those from stockholders' investments and distributions.
Explanation:The correct answer to the question is c. Comprehensive income. Comprehensive income includes all changes in equity during a period except for those resulting from investments by stockholders and distributions to stockholders. It incorporates items that are not included in the net income, such as unrealized gains and losses on certain types of investments, foreign currency translation adjustments, and certain pension adjustments that are recorded directly in equity, according to the accounting standards. These items are part of what is known as other comprehensive income (OCI), which is the difference between net income and comprehensive income.
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In the long run, what happens to the demand curve facing a monopolistically competitive firm that is earning short run profits? A. The demand curve will shift to the left and became less elastic throughout the relevant range of prices. B. The demand curve will shift to the right and became more elastic throughout the relevant range of prices. C. The demand curve will shift to the left and became more elastic throughout the relevant range of prices. D. The demand curve will shift to the right and became less elastic throughout the relevant range of prices.
Answer:
The correct answer is option C.
Explanation:
Suppose a monopolistic firm is earning profits in the short run. This will attract new firms to enter the market. In the long run, new firms will enter the market. The market supply, as a result, will increase.
The individual demand for a single firm will decrease as the existing market share will now be distributed among the increased number of firms. So the market share of each firm will decline.
This decrease in demand will cause the demand curve to shift to the left. The leftward shift in the demand curve will make it more elastic than earlier.
Trade between Mexico and U.S.
- is a losing proposition for Mexico because U.S. workers are more productive.
- is a losing proposition for the U.S. because Mexico has cheaper labor.
- is like a sports contest: one side wins and the other side loses.
- benefits both the United States and Mexico.
Answer:
It benefits both sides
Explanation:
It may not benefit the same way but of course both sides benefit. The U.S. might obtain more because its has more money than Mexico.
A company is interested in producing a dinosaur game for mobile phones and tablets. It selects a representative sample of boys and girls ages 4 to 8 who currently have access to a mobile device and like dinosaurs. After interviewing the children and collecting other relevant data, the firm then makes generalizations about what all young children want in their apps. The method used is
Answer:
Statistical inference
Explanation:
Statistical inference is the estimate of the characteristics or properties of a population which is derived from the analysis of a sample( sample of boys and girls ages 4 to 8 who currently have access to a mobile device and like dinosaurs) drawn from it.
Suppose that convection ovens are a normal good. Suppose that the income of households decrease, while at the same time there is a reduction in the cost of inputs for convection ovens. We would expect that the new equilibrium price of convection ovens will ________ while the new equilibrium quantity of convection ovens will ________.
Answer:
The correct answer is: increase, depend on the extent of change in demand and supply.
Explanation:
Suppose that the convection ovens are a normal good. A decrease in the income of the households will cause the demand for ovens to decrease. This will cause the demand curve to move to the left.
At the same time, a reduction in the cost of inputs for convection ovens will cause the cost of production to decline. As the cost of production gets reduced the supply will increase. This will cause the supply curve to shift to the right.
These changes in the demand and supply curve will cause a reduction in the equilibrium price level. Though the change in equilibrium quantity will depend upon the extent of change in demand and supply.
The new equilibrium price of convection ovens will be ambiguous, as it depends on the relative shifts in supply and demand. The new equilibrium quantity will likely increase due to the reduction in input costs leading to an increased supply, despite the decrease in demand.
If convection ovens are a normal good and household income decreases, we would expect the demand for convection ovens to decrease. This would normally lead to a lower equilibrium price. However, at the same time, there is also a reduction in the cost of inputs for convection ovens, which would lead to an increase in supply. An increase in supply, all else unchanged, leads to a lower equilibrium price and an increased quantity demanded.
Given these two effects, the new equilibrium price of convection ovens will be ambiguous; it could increase, decrease, or stay the same, depending on the relative magnitude of the demand decline and supply increase. The new equilibrium quantity of convection ovens will likely increase because the effect of increased supply (due to reduced input costs) on quantity is unambiguous, although the decrease in demand could partially offset this increase.
A production possibilities frontier (PPF) is
A. a curve showing the maximum attainable combinations of two products that may be produced with available resources and current technology.
B. a curve that shows the potential productive capabilities of the frontier (defined as the area outside of cities) of a developing economy.
C. a curve that illustrates the demand of two goods for the average consumer.
D. a curve showing the generally attainable combinations of two products that may be produced with all planned or potential, yet undeveloped technology.
Answer:
The correct answer is option A.
Explanation:
A production possibility curve or frontier is a curve concave to the origin. It shows the maximum attainable bundles of two goods that can be produced using the given resources and level of technology.
The curve has a concave shape because of increasing opportunity cost. With the limited resources, we need to sacrifice the production of one good if we want to increase the production of the other.
Rapida Inc. and Click Inc. are two companies that have been manufacturing typewriters for almost 30 years. Due to the reduced demand for typewriters today, both companies' average return on invested capital is approximately –5 percent. The current industry average is 2 percent. In this scenario, Rapida Inc. and Click Inc. most likely have
a. competitive advantage over other firms in their industry.
b. competitive parity with each other.
c. strategic alliance with each other.
d. economies of scope instead of economies of scale.
Answer:
The answer is: B) Competitive parity with each other.
Explanation:
Rapida Inc. and Click Inc. have competitive parity with each because they are both losing money and both have the same negative rate of return.
Competitive parity happens when one company achieves standard or average results as compared to other similar company (or companies) in their industry.
The nature of political battles over trade in the modern era A. typically centers on issues involving the trade-induced devaluation of labor skills. B. originates with the fundamental conflict between workers and capitalists. C. has remained unchanged from the battles fought throughout history. D. centers on disputes between landowners and manufacturers.
Answer:
The correct answer is A. typically centers on issues involving the trade-induced devaluation of labor skills.
Explanation:
Modern trade and negotiated trade agreements involve all these areas and, also, greater details and scope (for example, investments). The so-called “last generation” trade agreements and their relative boom were due to the stoppage of the WTO Doha Round, perhaps determined by the reluctance of developed countries to promote greater openness in agriculture.
If an interviewer decides not to plan any questions in advance and directs the interview in whatever direction seems appropriate at the time, what kind of interview is he or she conducting?
Answer:
Unstructured interview.
Explanation:
Unstructured interview is an conversation between parts without an structured down-written questions or sequence. This type of interview is used to have an open conversation and evaluate, somehow, the skills that the interviewed could show.
So, with unstructured interviews you should be open to response different kinds of questions, personal and professional ones.
When a company performs a competitively valuable activity better than its rivals, it is said to have a distinctive competence in performing the activity.
a. dynamic resource capability.
b competence in performing the activity.
c core competence in performing the activity.
d superior human resources and intellectual capital.
Answer:
a. dynamic resource capability.
Explanation:
A company's competence of performing a activity depends on various factors. It depends on the production whether producing in vast quantities or small quantities, quality of the product, its inventory and stock, delivery at time, timely rendering service. All the factors leads to the success of the performing a certain activity. If these points are not fully satisfied at time, customers will run to the rival companies for the product or service. So having a strong dynamic resource and also the man force to complete all the required activity at time is the main criteria for the success of the company.
Thus the answer is a. dynamic resource capability.
In 2013, the employee at Lighthouse Services prepared an annual report for the bank that revealed total revenue in 2012 was $6,000,000. The manager needs the information to apply for a loan to purchase new equipment to maintain the operations at the organization. The report was prepared in accordance with GAAP and the report contained information about the 2012 financial performance at the company.Which of the following describes the role of the employee at Lighthouse Services?A. Board of Director B. CFO C.CEO D.Managerial Accountant E.Financial Accountant
Answer:
The answer is E.Financial Accountant
Explanation:
A Financial Accountant acts as a consultant for senior managers and one of its functions includes the presentation of financial reports in accordance with the law. Likewise, its duties include financial planning, reporting, and controls, short and long term business strategy, cash management, internal risk management, corporate finance, and accounting.
This is why the correct option is the letter E. Financial Accountant.
A CPA firm should establish procedures for conducting and supervising work at all organizational levels to provide reasonable assurance that the work performed meets the firm’s standards of quality. To achieve this goal, the firm most likely would establish procedures for:
Answer:
The correct answer is Reviewing documentation of the work performed and reports issued.
Explanation:
Supervising staff could be a complicated and quite laborious task when not done correctly. In addition, the employee may feel observed and even intimidated.
To avoid the above, it is important to look for a better way to supervise staff, trying to avoid constant harassment to which they feel exposed. Following this helps a lot in this process:
Constant monitoring. Constant monitoring does not warrant that the supervisor does not take off from the employee like a shadow. Supervisions can be daily, yes, but that depends on the activity that is carried out and how safe the supervisor is of the training provided to the worker.
Written evaluations. These evaluations can be carried out thanks to the monitoring of the previous point (always in writing and, preferably, signed by employee and supervisor), or, they can be small tests and knowledge tests, depending on the area in which the worker performs.
The form of evaluation will always depend on the supervisor, on what he considers most effective and on the activities to be monitored and evaluated.
Write a document per employee. The file must include the following:
The progress of each employee in the assigned projects and activities. The job description signed by the director / manager, direct supervisor and employee. There must be two goals: one original that remains in the address and a copy for the worker. Any evaluation in writing (regardless of deadlines, although preferably it could be monthly) that shows the worker's performance. Evidence of conversations between the director and supervisor about the worker's performance, duly signed and dated. Records of complaints from the worker to the company and from the company to the worker.Canada goes to considerable lengths to protect its television program and magazine producers from U.S. competitors. The United States often seeks protection from food imports from Canada. From an economywide viewpoint, these efforts are misguided because the enhanced output from specialization based upon comparative advantage is restricted. Specialization and comparative advantage
A.lead to greater productivity.
B.lead to greater output even if you can do everything better than someone else.
C.lead to international trade and overall gains for the nations involved.
D.All of the above
Answer:
D. All the Above
Explanation:
A. Lead to greater productivity
This is true because through specialization and competitive advantages you can achieve greater productivity in the production of goods and services. If you have a competitive advantage, it is because you have more capital, infrastructure and specialized human capital in the production of a specific type of good or service so that a greater amount of that good can be produced than another country in the same time.
B. Lead to greater output even if you can do everything better than someone else.
This is true since although a country has a competitive advantage in all industries, concentrating its labor and capital in the production of the good or service in which it has the greatest competitive advantage will allow a higher level of production in that sole good/service than if he divided his resources into the production of other goods and services.
C. Lead to international trade and overall gains for the nations involved.
This point, despite being true, is debatable. In theory, international trade allows to reach greater levels of wealth to the countries involved by being able to exchange the goods in which they have competitive advantage for others that if they were produced in the country they would consume part of their resources by not having such high productivity as if it will trade with a country that does have the capacity to produce it.
Having this clear, we can say that all of the above are true, so the answer is D.
Consider the following statements:
a. Consumers buy more MP3 players from an electronics store that sells MP3 players at a lower price than other rival electronics stores in the area.
b. Schools take steps to increase security since they believe it is more costly to allow vandalism than to hire additional security guards.
c. Citrus growers produce more oranges when the selling price of oranges falls.
Which of the above statements demonstrates that economic agents respond to incentives?
Answer:
A. Consumers buy more MP3 players from an electronics store that sells MP3 players at a lower price than other rival electronics stores in the area.
Explanation:
Economic agents are known as people, company or organizations that have an influence on the economy by producing, buying, or selling. In this case the agent is the consumer and he responds to the incentive of lower prices by buying at that specific store.
Lorraine belongs to a national consumer panel created by a market research company. She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products. The national consumer panel Lorraine is part of is engaged in
A. premarket testing.
B. product launch.
C. test marketing.D. product development.E. concept testing
Answer:
A. premarket testing.
Explanation:
The pre market testing is when people from a certain business send products to people that are the target of that product to see if they would use it, continue to use it and how much would they be willing to pay for that product, this is done prior to the launch of the product, in order to get to know better the consumer and how they can improve their product, also to see if it is viable to start mass production and launch it into the market, so what Lorraine is doing is premarket testing.
How does scarcity affect Trey?
Time is scarce so Trey must decide whether to buy the car as soon as possible or to keep his position on the team.
Shifts at the restaurant are scarce so Trey must find a second job in order to save up enough to purchase the car.
Positions on the school basketball team are scarce so Trey must quit his job and practice harder to stay on the team.
His uncle’s car is scarce so Trey must purchase the car before demand causes the price of it to rise significantly.
Answer:
The answer is: All our actions and decisions are affected by scarcity. Trey must decide what actions he needs to take to maximize his well being.
Explanation:
By definition all resources are finite, they have a limit. Even the richest corporations in the world have a certain amount of money, no one can have infinite money. No basketball team is made up of 7 billion people, someone in the world will not be able to play basketball. Time, materials, goods, services, everything is limited, so everything is scarce.
Trey´s (and everyone else´s) day is only 24 hours long, so he must decide how to divide his time to achieve the goals that maximize his happiness or well being. He must decide what is most important for him, a car or the basketball team. Time scarcity sets up a limit on the decisions we make. He must decide whether to work more to be able to buy the car, or should he stay on the team and forget about the car. Only Trey can decide based on what will make him happier.
Final answer:
Scarcity compels Trey to make choices on how to best use his limited resources of time and money, reflecting the concept of opportunity cost in economics.
Explanation:
Scarcity affects Trey by forcing him to make decisions about how to allocate his limited resources, namely time and money. In each scenario proposed, Trey faces scarcity in different forms, which affects his choices:
Time is scarce, so Trey must decide between buying a car quickly or maintaining his position on the team.Work shifts at the restaurant are scarce, prompting Trey to look for a second job to save for the car.With limited positions on the basketball team, Trey might have to leave his job to focus on practice.If his uncle's car is scarce and in demand, Trey must act fast before the price increases.The concept of opportunity cost is inherent in all these scenarios, illustrating that choosing one option often comes at the expense of another. This illustrates how scarcity leads to essential decision making in economics.
Which of the following statements about market failure is not true: Question 14 options:
A. Market failure always results from some government action or policy in a market.
B. Market failure can come from causes on the demand-side or the supply-side of a market.
C. Market failure can result from the number of sellers in a market being too few to ensure competition.
D. Market failure causes an inefficient allocation of resources, even in a competitive market.
Answer: Option A
Explanation: Government intervention is a very rare factor leading to failure of a market to operate. Usually the market failure happens because of some differences in demand and supply in the market and the government intervenes to correct the situation.
In fact, market failures happens in free markets in which the intervention from government is very minimal.
Hence from the above we can conclude that the correct option is A.
A company purchased a piece of equipment for $350,000 in 2008. As of 12/31/2015, $215,000 of depreciation expense had been recognized against this piece of equipment. What is the equipment's net book value on 12/31/2015?
Answer:
The equipment's net book value on 12/31/2015 is $ 135000.
Explanation:
Net book value of the equipment on 12/31/2015 is given by:
Net book value = cost of the equipment - depreciation expense recognized until 12/31/2015
= $ 350000 - $ 215000
= $ 135000
Therefore, the equipment's net book value on 12/31/2015 is $ 135000.
Final answer:
The net book value of the equipment on 12/31/2015 is calculated by subtracting the accumulated depreciation from the original purchase price, resulting in a net book value of $135,000.
Explanation:
To calculate the equipment's net book value on 12/31/2015, we subtract the total depreciation expense recognized from the original purchase price of the equipment. The purchase price was $350,000 and the accumulated depreciation as of 12/31/2015 was $215,000.
Therefore, the equipment's net book value on 12/31/2015 is:
Purchase Price - Accumulated Depreciation = Net Book Value
$350,000 - $215,000 = $135,000
The net book value of the equipment as of 12/31/2015 is $135,000.