Which of the Following Would Probably Be a Discretionary Fixed

question 5

Multiple Choice

Which of the following would probably be a discretionary fixed cost for a law firm?

• A) salary of receptionist
• B) advertising
• C) depreciation on furniture and equipment
• D) cost of legal forms

Identify capital expenditures in various scenarios.

Understand and calculate depreciation using different methods including straight-line, double-declining-balance, and units-of-output.

Understand the accounting treatment for exchanges of similar and dissimilar assets.

Comprehend the acquisition and capitalization of fixed assets, including costs involved and their classification.

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Definitions:

Well-Defined Purpose

Refers to a clear, specific, and explicit goal or objective that guides an action, project, or strategy.

Personal Selling

A form of direct marketing where sales representatives personally interact with potential customers to inform about and sell their products or services.

Print

Refers to written or graphic material that has been reproduced on paper or other substrates through printing processes, such as books, magazines, and posters.

Radio

A technology for transmitting sound broadcasting through electromagnetic waves, allowing for audio communication and entertainment across distances.