Which of the following would be depleted?

Which of the following would be depleted?

a) equipment
b) patents
c) oil wells
d) land

Answer: C

Which of the following is not included in the land account value of an acquired piece of land?

Which of the following is not included in the land account value of an acquired piece of land?

a) 5,000 to tear down a useless shack on the property
b) 8,000 to level the site
c) 60,000 on a sewer system
d) 12,000 for a security fence

Answer: C

Factors that affect the market price of bonds include all of the following except:

Factors that affect the market price of bonds include all of the following except:

a) length of time until maturity
b) purchasers' credit rating
c) market rate of interest
d) issuing companies' credit rating

Answer: B

Which of the following may be a contingent liability?

Which of the following may be a contingent liability?

a)sales tax owed
b) accrued interest
c) future lawsuits claims
d) customer deposits

Answer: C

Who determines the price at which bonds will sell?

Who determines the price at which bonds will sell?

a) the issuing company
b) the market ( purchasers of the bonds)
c) the bonds underwriters
d) the SEC

Answer: B

Which of the following is not true of contingent liabilities?

Which of the following is not true of contingent liabilities?

a) they result from a past transaction or promise
b) lawsuits and loan guarantees are example
c) they occur in the present
d) they result in some other event takes place

Answer: C