Refer to the Following Figure When Answering the Following Questions

question 106

Multiple Choice

Refer to the following figure when answering the following questions.
Figure 16.4: Personal Saving Rate: 1990-2010
-Consider Figure 16.4. A possible cause for the change in the saving rate after about 2007 is:

• A) precautionary saving.
• B) consumption smoothing.
• C) a falling discount factor.
• D) rising marginal utility of consumption.
• E) the aging of the baby boomers.

Identify the differences between ordinary maintenance and repairs, asset improvements, and extraordinary repairs.

Classify costs into appropriate categories such as land, land improvements, buildings, and machinery and equipment.

Recognize the accounting treatment and classification of intangible assets.

Determine the cost of newly constructed assets and the inclusion of various expenses in their cost.

---

Definitions:

Personal Biases

Prejudices or inclinations that affect an individual's views, decisions, and interactions, often unconsciously.

Applicant's Capabilities

The skills, qualifications, and experiences that a job applicant possesses, relevant to a specific job or task.

Socialization

The onboarding process through which new members learn the culture of an organization.

Casual Interactions

Informal exchanges or social contacts that occur naturally in the workplace or social settings.