Exporting, licensing, franchising, joint ventures and wholly owned subsidiaries are all methods of:

On February 1, 2011, Delta Distribution Company purchased a delivery truck that cost $30,000. The truck has an estimated useful life of 150,000 miles and an estimated salvage value of $3,000

The truck is driven 10,000; 34,000; and 28,000 miles for the years 2011, 2012, and 2013, respectively. Required: 1. Calculate the depreciation expense per mile using the activity (units-of-production) method. 2. Use the activity method to complete the chart below: Year Miles driven Depreciation expense for the year ended Dec. 31 Book value at Dec. 31 2011 10,000 $ $ 2012 34,000 $ $ 2013 28,000 $ $ 3. Explain why long-term assets must be depreciated, rather than recorded as expenses in the period when the asset is purchased. 4. Explain why land is NOT depreciated when other assets, such as trucks, are depreciated.

Robert offers to buy a car from Jane for $400. Jane must accept this offer in order to form an enforceable contract

Indicate whether the statement is true or false