Answer:
This is not correct, as the information systems in this age are rapidly transforming, due to artificial intelligence and IoT.
Answer:
b. They are treated differently because the loss in value of Carol's stock is the result of a sale, while the loss in value of Dave's stock is simply a decline in value.
Explanation:
Although the stock owned by Carol and by Dave declines in value by $2,000, however Carol only has a realized and recognized loss of $2,000. The main factor in determining whether a disposition has taken place often whether an identifiable event has occurred. In the current scenario, Carol’s stock sale qualifies as a disposition and the Dave’s stock value decline does not qualify as a disposition and is simply a decline in value.
Answer:
Annual depreciation= $2,700
Explanation:
Giving the following information:
Morgan Co. purchased a truck that cost $32,000. The truck had an expected useful life of 10 years and a $5,000 salvage value.
The straight-line depreciation method provides an annual depreciation expense by dividing the book value by the number of useful years.
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (32,000 - 5,000)/10= $2,700
1 and 5 would be the numbers
