Equipment is one example of an intangible asset
Indicate whether the statement is true or false.
Answer: FALSE
Explanation: Equipment is a tangible asset. Intangible assets are patents, copyrights, and trademarks.
Business
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The double-declining-balance method ignores the residual value until the depreciation expense takes the book value below the residual value
Indicate whether the statement is true or false
Business
What type of deed is received by a purchaser after a sheriff's sale?
A. Limited warranty deed B. Quitclaim deed C. Sheriff's deed D. Grant deed
Business