An Asset Can Be Disposed of by All of the Following

question 91

Multiple Choice

An asset can be disposed of by all of the following except:

• A)Discarding it.
• B)Selling it.
• C)Exchanging it for another asset.
• D)Donating it to charity.
• E)Continuing to use it after it is fully depreciated.

Outline and analyze Maslow's hierarchy of needs and its significance in psychology.

Understand the various components and frameworks involved in creating and implementing an ethical program within an organization.

Recognize the distinct roles and responsibilities of different personnel in enforcing ethics standards, including the ethics officer's duties.

Differentiate between compliance and values orientations in ethics programs and their impact on organizational culture.

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Definitions:

Inventory

The goods and materials that a business holds for the purpose of resale or production.

Credit

The trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately but promises either to repay or return those resources at a later date.

Cash Cycle

The period between the outlay of cash for the purchase of raw materials and the collection of cash from the sale of products, measuring how efficiently a company manages its working capital.

Inventory Period

The average time it takes for a company to turn its inventory into sales.