Achange in the estimated useful life of equipment requiresa. a retroactive change in the amount of periodic depreciation recognized inprevious years. b. that no change be made in the periodic depreciation so that depreciationamounts are comparable over the life of the asset. c. that the amount of periodic depreciation be changed in the current year andin future years. d. that income for the current year be increased.

Licensing is perhaps the easiest method of entering into international trade. another method of entering international trade, which can be relatively low risk, is which opens several levels of involvement to company

True or false: on january 1, year one, the epstein corporation buys a plot of land with a four-story office building. the company believes the building is worth $1.9 million and has an estimated life of twenty years (with no anticipated residual value). the straight-line method is used. the land has an assessed value of $100,000. because the seller was interested in a quick sale, epstein was able to buy this land and building for $1.7 million. depreciation expense to be recognized in year one is $80,750.

Put each of them in order. you are a young entrepreneur with a startup business. you now seek credit from the bank to expand it. what are the steps you will have to take? 1. you support your loan application with relevant documents. 2. you fill out the loan application form at the bank 3. you get an approval for the loan and the money is disbursed to your business account 4. you use the credit to further your business plan. 5. you have an interview with the loan officer and you explain your business plan.