Answer:The new machinery must be depreciated using the same method as the previously purchased Machinery.
Explanation:
This is in line with the consistent concept which states a company must be consistent in the application of accounting principles to his activities.
Answer:
B. It eliminated all tariffs and non-tariff trade barriers from within North America.
Explanation:
The North American Free Trade Agreement was a pact formed between America, Canada, and Mexico to encourage trade between these three countries. This pact encouraged trade within these three nations by eliminating tariff barriers that would otherwise have limited trade between the countries.
NAFTA became active on January 1, 1994. NAFTA today has been replaced by another agreement known as the United States- Mexico Trade Agreement. This was made possible by President Donald Trump who believed that NAFTA was not really fair on America.
Answer:
D. Credit card companies usually charge higher interest rates for cash advances than for purchases.
Explanation:
A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.
Generally, small businesses or companies who avail their customers the opportunity to pay using a credit card will increase the number of customers that would patronize them because they are typically buying the goods and services on credit.
Also, when a credit card holder is requesting for an advance on cash from its merchant or financial institution, they are usually charged more interest rates compared to when using the card to make a purchase.
Hence, the statement which is true about credit card is that, credit card companies usually charge higher interest rates for cash advances than for purchases.
Key management is the answer
