A business sold equipment for $8,000 in cash proceeds which had an original cost of $50,000 and
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Question:
A business sold equipment for $8,000 in cash proceeds which had an original cost of $50,000 and accumulated depreciation at the date of sale of $40,000. Which of the statements below is true?
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The overhead spending variance and the overhead efficiency variance are useful only if variable overhead really should be proportional to the activity measure that is being used in the flexible budget.
A) True | |
B) False |
Short-term highly liquid investments such as treasury bills which may be included on the balance sheet within marketable securities will be considered cash in preparation of the cash flow statement.
A) True | |
B) False |
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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