Homework help, please and thank you! Which one of the following statements is co

ID: 2739495 • Letter: H

Question

Homework help, please and thank you!

Which one of the following statements is correct concerning market and book values?

Select one:

a. Market values are more predictable than book values.

b. Book values are affected by the depreciation method used.

c. Both the book value and the market value of land decrease over time.

d. The book value of an asset can increase over time.

e. Market values must be greater than or equal to book values.

Limited liability companies are primarily designed to:

I. be taxed like a partnership.

II. be taxed like a corporation.

III. operate like a corporation.

IV. provide limited liability for the owners.

Select one:

a. II and IV only

b. I and III only

c. I and IV only

d. II and III only

e. IV only

The cost of goods sold:

Select one:

a. includes both the fixed and the variable costs of producing the items included in revenue.

b. includes period costs only.

c. includes all manufacturing costs incurred during the income statement period.

d. is equal to the variable cost per unit multiplied by the number of units sold.

e. is equal to the fixed costs of production for the time period.

1. The correct answer is b. Book values are affected by the depreciation method used.

2. The correct answer is a. II and IV only ( Could be e. IV only also)

3. The correct answer is a. includes both the fixed and the variable costs of producing the items included in revenue

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