Answer:
A change in the depreciation method is not a change of accounting policies. Therefore, this change will not require any retrospective journal entry for 2018. Changes in depreciation methods are prospective, meaning that they affect future values, not past values. This is considered a change in an accounting estimate.
Explanation:
Answer:
C) Passive data is the correct answer.
Explanation:
- Passive data are the data that is collected without the involvement and without requesting the user.
- Passive data is also called as implicit data.
- passive data are collected without active participation and passive data are gathered from a phone call, text activity, and global positioning methods.
Examples of passive data are:
Answer:
$144,592
Explanation:
The computation of the after tax salvage value is shown below;
We assume that after 2 years, 52% of the equipment cost would be written off so the remaining basis i.e.
= $319,000 × 48%
= $153,120
The tax loss is
= $153,120 - $140,000
= $13,120
ANd, the tax rate is 35%
So,
= $13,120 × 0.35
= $4,592
Now the after tax salvage value is
= $140,000 + $4,592
= $144,592
Answer:
False
Explanation:
The given statement is false Financial reports does not provide information that can reduce investors uncertainty about the company's opportunities and risks, thereby raising the company's cost of capital.
Financial report of a company contains balance sheet, income statement and discussion of the management. It also indicate company's financial health and earning potential. But it cannot reduce the risk of investors uncertainty.
