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kobusy [5.1K]
3 years ago
5

Describe the three levels of selectivity. Describe an example for each.

Business
1 answer:
Oksi-84 [34.3K]3 years ago
4 0

Hi, you've asked an unclear question. However, I assume you're referring to levels of college selectivity.

Three levels of selectivity (college selectivity) are:

Most selective

Extremely selective

Very selective

Most selective: Colleges with this level of selectivity are said to accept fewer than 15% of all applicants, examples include, Harvard University, Johns Hopkins University, Stanford University

, Massachusetts Institute of Technology.

Extremely selective: Colleges with this level of selectivity are said to accept fewer than 35% of all applicants. Institutions under this category include Boston University, New York University, Georgia Institute of Technology, etc.

Very selective: The Colleges under this category accept fewer than 50% of all applicants. Examples are George Washington University, Kenyon College, Lafayette College,

North Carolina State University, etc.

These are some of the selectivity levels, you could find more Information from other online resources.

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Steve Colburn's portable sawmill used 100% for business, was completely destroyed by fire. The sawmill had an adjusted basis of
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A casualty loss is simply a loss that an individual or business incurs when a property is damaged, or destroyed due to an unexpected or sudden event like fire, volcanic eruption, flood etc.

Here, Steve's casualty loss will be gotten when we compare both his adjusted basis and the fair market value and then we choose the lesser one. Since $35000 is lesser than $50000, therefore the answer will be $35000.

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Answer:

a. Determine the cost of the copper mine.

  • $2,104,430

b. Prepare the journal entries to record the acquisition costs.

Date X, 2021, acquisition of copper mine

Dr Copper mine 2,104,430  

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    Cr Asset retirement liability 324,430

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Dr Equipment 150,000

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Explanation:

estimated restoration costs = ($330,000 x .25) + ($430,000 x .4) + ($630,000 x .35) = $475,000

now we must adjust the restoration cost and determine its present value = $475,000 x 0.68301 (present value factor, 10%, 4 periods) = $324,430

total cost of copper mine = purchase cost + preparation costs + restoration costs = $1,150,000 + $630,000 + $324,430 = $2,104,430

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I.It's easier to purchase affordable insurance during a "soft" market than during a "hard" market

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The market condition can be a soft market or hard market.

Soft market is one in which potential sellers are more than potential buyers. So supply exceeds demand. Buyers are able to buy affordable insurance.

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