Managerial Accounting final Multiple Choice Ch 9

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Anonymous
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153113
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Managerial Accounting final Multiple Choice Ch 9
Updated:
2012-05-09 12:04:00
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Managerial Accounting final Multiple Choice
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Managerial Accounting final Multiple Choice Ch 9
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  1. Which of the following in NOT a current asset?
    Marketable securities
  2. Which of the following is an asset that does NOT have physical substance
    Patents
  3. To properly evaluate the purchase of a long-term asset, the expected future cash flows must be adjusted for
    Interest
  4. Boone Comapany purchased a piece of machinary by paying $5,000 cash. In addition to the purchase price, the company incurred $100 freight charges. The machine has an estimated useful life of 5 years and will require $125 for insurance over that period. Boone Company would record the cost of the machine at
    $5,100
  5. What is the gain of loss on the sale of an asset that orginally cost $6,000, has accumilated depreciation of $2,5000, and is sold for $3,000?
    $500 loss

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