DirecTV cut back advertising expenditures to minimum levels and reduced the number of channel members for its industrial satellite product. These actions indicate that its product is in the stage of its life cycle.

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

Forecasting as a first step in the team’s decision making, it wants to forecast quarterly demand for each of the two types of containers for years 6 to 8. based on historical trends, demand is expected to continue to grow until year 8, after which it is expected to plateau. julie must select the appropriate forecasting method and estimate the likely forecast error. which method should she choose? why? using the method selected, forecast demand for years 6 to 8.

Acompany using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. defective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be