30. Which of the following is not one of the main factors that contribute to fra

Question

30. Which of the following is not one of the main factors that contribute to fraudulent activity? A) Opportunity. B) Incompatible duties. C) Financial pressure D) Rationalization. 31. Depreciation is a process of A) asset devaluation. B) cost accumulation. C) cost allocation. D) asset valuation. 32. The interest charged on a $90,000 note payable, at the rate of 6%, on a 90-day note would be A) $5,400. B) $2,700. C) $1,350. D) $900. 33. A company purchased land for $350,000 cash. Real estate brokers' commission was S25,000 and $35,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the historical cost principle, the cost of land would be recorded at A) $385,000. B) $350,000 C) $375,000. D) $410,000

Explanation / Answer

30. B) Incompatible duty is not one of the main factor that contribute to fadulent activity.

31. Depreciation is a process of C) Cost Allocation.

32. The interest charge on a $90000 Note Payable , at the rate of 6%, on a 90 daynote would be:-C) $1350

( $90000*6%*90Days/365 days)

33. D) $410000

( $350000+25000+$35000)

34.A) Straight Line

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