Wave Crest Hotels Is Located in Canada, but Manages an Extensive

question 113

Multiple Choice

Wave Crest Hotels is located in Canada, but manages an extensive network of boutique hotels in the United States.Wave Crest has significant receivables from 3 customers, $480,000 due from Stephanie Inn, $900,000 due from Warren House, and $760,000 due from Hallmark Hotels.Wave Crest has other receivables totaling $440,000.
Wave Crest determines that the Warren House receivable is impaired by $160,000 and the Hallmark Hotels receivable is impaired by $200,000.The receivable from the Stephanie Inn is not considered impaired.Wave Crest determines that a composite rate of 5% is appropriate to measure impairment on all other receivables.What is the total impairment of receivables for Wave Crest for 2011?

• A)$382,000
• B)$314,000
• C)$406,000
• D)$360,000

Acknowledge the diverse definitions and schools of thought within personality theory.

Realize the crucial role culture plays in shaping personality and behavior.

Identify the impacts of individualism and collectivism on organizational behavior.

Understand the role of managerial awareness in addressing individual differences within the workplace.

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Definitions:

Amortization

The process of spreading out a loan or intangible asset cost over a specific period of time for accounting and taxation purposes.

Generally Accepted Accounting Principles

A collection of commonly-followed accounting rules and standards for financial reporting.

Straight-Line Method

A way of calculating equal depreciation expenses for an asset over its useful life.