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10. Which accounting method for depreciation would you use if you wanted your taxes to be the lowest: A. B. C. D. 200% Double Declining Balance. MACRS Straight Line Depreciation. Sum of the years Digits.

10. Which accounting method for depreciation would you use if you wanted your taxes to be the lowest: A. B. C. D. 200% Double Declining Balance. MACRS Straight Line Depreciation. Sum of the years Digits.

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 3P
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10. 11. 12 13 14. Which accounting method for depreciation would you use if you wanted your taxes to be the lowest: 15. A. B. C. D. A. B. C. D. In times of rising prices, which inventory method would you want to use if you were an CEO interested in issuing a new stock offer: ABCD 200% Double Declining Balance. MACRS A. Straight Line Depreciation. Sum of the years Digits. Which method is used to expense operating assets? Depletion Amortization C. Depreciation D. Write off method B. LIFO Average FIFO None of the above What is the LCM rule concerning the valuation of inventories. A. Last in cost rule. B. Lower of cost or MACRS C. A rule that requires a company to value its inventory at market value If its market price is lower than its cost. D. Can be used in place of FIFO. SHORT ESSAY Why is the perpetual inventory system superior to the periodic system for business purposes? What are the two allowance methods used to account for bad debts. Explain who would be most interested in each and why.
Transcribed Image Text:10. 11. 12 13 14. Which accounting method for depreciation would you use if you wanted your taxes to be the lowest: 15. A. B. C. D. A. B. C. D. In times of rising prices, which inventory method would you want to use if you were an CEO interested in issuing a new stock offer: ABCD 200% Double Declining Balance. MACRS A. Straight Line Depreciation. Sum of the years Digits. Which method is used to expense operating assets? Depletion Amortization C. Depreciation D. Write off method B. LIFO Average FIFO None of the above What is the LCM rule concerning the valuation of inventories. A. Last in cost rule. B. Lower of cost or MACRS C. A rule that requires a company to value its inventory at market value If its market price is lower than its cost. D. Can be used in place of FIFO. SHORT ESSAY Why is the perpetual inventory system superior to the periodic system for business purposes? What are the two allowance methods used to account for bad debts. Explain who would be most interested in each and why.
16. 17. Why is accounting important to the business would Which accounting method should be used to meet GAAP requirements and why when recording a sale when a cash discount is offered?
Transcribed Image Text:16. 17. Why is accounting important to the business would Which accounting method should be used to meet GAAP requirements and why when recording a sale when a cash discount is offered?
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