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Molodets [167]
4 years ago
5

In 2014, Iris King bought a diamond necklace for her own use, at a cost of $10,000. In 2019, when the fair market value was $12,

000, Iris gave this necklace to her daughter, Ruth. No gift tax was due. This diamond necklace is a _________
Business
1 answer:
Ivanshal [37]4 years ago
7 0

Answer:

Capital asset

Explanation:

Capital asset are classified as the  property which are expected to generate some value over the duration of time.

Capital assets includes,

Buildings

Computer equipment

Jewelry

Machinery, and vehicles etc.

The capital assets has an expected useful life of more than one year

It can be sold as a normal part of business operations.

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Pitfalls that should be carefully explored before outsourcing include
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<span>These are some of the pitfall that should be carefully explored before outsourcing. It is difficult to full integrate outsourced processes with the firm's other processes. Deciding to outsource a process before making a good-faith effort to fix the existing one.The firm with a technology advantage may be setting up the other firm to be a future competitor</span>
6 0
4 years ago
In the Shaping Department of Rollins Company the unit materials cost is $5.00 and the unit conversion cost is $3.00. The departm
sukhopar [10]

Answer:

The answer is: C

Explanation:

This costing question assesses the stages of completion of inventory during the manufacturing process. The significant point of information is: all materials are added at the beginning of the process, meaning at the end of the period, materials are fully complete, that is, no more materials will be added to the ending work in process. However, the conversion costs are yet to be fully utilised. In this case, equivalent units (partial units computed as completed units for purposes of costing at the end of a financial period) will have  to be calculated to reflect the stage of completion.

Materials cost: 5000 units at 100% completion yields 5000 units for costing

Conversion costs: 5000 units at 20% conversion completion is equal to: 5000*0.2= 1000 equivalent units

The costing calculation for ending work in process is as follows:

Materials cost: 5000 units at $5.00 per unit = $25,000

Conversion cost: 1000 units at $3.00 per unit = $3000

The total cost for ending work in process is the sum of the materials cost and conversion cost = $28,000

8 0
3 years ago
Tom Parkey has prepared the following list of statements about depreciation. Identify each statement as true or false.
kifflom [539]

Answer:

Explanation:

1) False. As depreciation is a process of cost allocation, not asset valuation.

2) True.

3) False. As the book value is different from market value and it can be more or less.

4) False. As depreciation applies only to building and equipment.

5) False. The correct statement ought to be depreciation does not apply to land because its usefulness and revenue-producing ability generally remain intact over time.

6) True.

7) False. Recognizing depreciation on assets results in an accumulation of cost for replacement of the asset.

8) True.

9) False. Accumulated depreciation is recorded in a balance sheet while depreciation expense is reported in the income statement.

10) False. As salvage value is the same as residual value, hence, it three factors affect the computation of depreciation.

7 0
4 years ago
The process of polling potential investors regarding their interest in a forthcoming initial public offering (IPO) is called ___
SSSSS [86.1K]

Answer:

B. book building is the correct answer.

Explanation:

6 0
3 years ago
Before adding a global information system (GIS), international companies must take into consideration the _____ infrastructures
devlian [24]

Answer:

c. telecommunication

Explanation:

A global information system (GIS) is a system that is used to storage all the data from the headquarters of a company and all its subsidiaries in one place. This system works in all the places where the company is and the telecommunication infrastructure of the countries where the subsidiaries are located must be taken into consideration because it needs different technologies and applications and if they are not available or if they don't work properly, the system won't be able to store, retrieve and transmit information and it won't allow a good communication between the offices.

4 0
4 years ago
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