Use the Following Information for Questions

question 88

Multiple Choice

Use the following information for questions.
On January 1, 2011, Miles Inc.purchased equipment with a cost of €3,570,000, a useful life of
15 years and no salvage value.The company uses straight-line depreciation.At December 31, 2011, an independent appraiser determines that the fair value of the equipment is €3,500,000.Miles prepares financial statements using IFRS and elects to revalue the asset.
-In the second step of the 2-step revaluation process at the December 31, 2011, the journal entry to revalue the equipment will include a

• A)debit to Depreciation Expense for €357,000.
• B)credit to Equipment for €70,000.
• C)credit to Accumulated Depreciation for €238,000.
• D)credit to Revaluation Surplus for €70,000.

Acknowledge the biological, cognitive, and social influences on sexual orientation.

Grasp the relationship between motivation types (e.g., achievement, affiliation) and situational responses.

Comprehend the role of feedback mechanisms in emotion recognition and expression.

Understand the role of physiological responses in emotional experiences.

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Definitions:

Organizational Objectives

Specific goals a business or entity aims to achieve within a set timeframe.

Services

Activities or functions that are offered either to meet the needs of customers or to support the operations of an organization, such as IT support, catering, and cleaning.

Minimum-Wage Acts

Laws that establish the lowest hourly wage that can legally be paid to workers.

Remuneration

Compensation or payment received for employment or services provided, including salary, wages, bonuses, and benefits.