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Salsk061 [2.6K]
3 years ago
8

A new customer wants to open an account at your firm. When you ask him for a street address, he tells you that he will be moving

soon to a different apartment complex and wants to use his business address. Which statement is TRUE about this?
A. The only address to be used for Customer Identification purposes is the client's residence address and the account cannot be opened
B. The business address can be used for Customer Identification purposes and the account can be opened
C. If a residence address is not available, the address to be used for Customer Identification purposes is a P.O. Box
D. The account cannot be opened
Business
1 answer:
Rasek [7]3 years ago
5 0

Answer: B. . The business address can be used for Customer Identification purposes and the account can be opened

Explanation:

From the question, we are told that a new customer wants to open an account at a firm and that when he was asked for his street address, he said that he will be moving soon to a different apartment complex and wants to use his business address.

Since the customer will be moving to a new apartment and therefore may not yet know his street address, the customer can use his business address for identification purpose. Therefore, the customer can open the account.

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Answer:

The carrying value of the patent on X company on December 31 is $122,000

Explanation:

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= $7,500

So,

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Total cost of patent = $152,500

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Accumulated amortization = Amortize value × 2

= $15,250 × 2

Accumulated amortization  = $30,500

Now, the carrying value will be:

Carrying value = Total cost of patent - Accumulated depreciation

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Carrying value = $122,000

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