A long-term movement up or down in a time series is called:

Ringler Corporation exchanges one plant asset for a similar plant asset and gives cash in the exchange. The exchange is not expected to cause a material change in the future cash flows for either entity. If a gain on the disposal of the old asset is indicated, the gain will

a. be reported in the Other Revenues and Gains section of the income statement. b. effectively reduce the amount to be recorded as the cost of the new asset. c. effectively increase the amount to be recorded as the cost of the new asset. d. be credited directly to the owner's capital account.

The declining-balance method of depreciation produces a(n)

A. decreasing depreciation expense each period B. increasing depreciation expense each period C. declining percentage rate each period D. constant amount of depreciation expense each period (Straight-line)