The AICPA is required to adopt ethics standards that are at least as restrictive as the IESBA rules.
Answer: Option D
<u>Explanation:</u>
IESBA stands for the international ethics standards board for the accountants. As clear from the full form, this board performs the activities of setting up the ethics which the accountants need to follow while they are performing their work of making the accounts.
This body is not a national level but established at an international level. The other body which is the AICPA also needs to adopt the rules which are as restrive as the ethics of the IESBA.
Answer:
c. $4,000
Explanation:
The computation of the depreciation expense for year 2 under straight-line method is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($25,000 - $5,000) ÷ (5 years)
= ($20,000) ÷ (5 years)
= $4,000
In this method, the depreciation is same for all the remaining useful life i.e $4,000 is charged for remaining three years
Answer:
A business opportunity (or bizopp) involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business.
Answer:
e. Sunk cost.
Explanation:
As per the given statement, the best appropriate option is sunk cost. As the sunk cost deals with the past cost which is already incurred in the past and it cannot be changed or avoided, neither it can be recovered. Example - Rent expense.
Plus it does not affect the future decisions that means it is irrelevant for decision-making aspects.
Answer:
Marketing is important because it helps you sell your products or services, by advertising your business you are showing more people about it
Explanation:
