Property and equipment is reported at its:

a. fair value
b. market value
c. historical cost
d. depreciation cost
e. book value

Ans: c. historical cost

Business

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Which of the following statements is true of the economies of Australia and New Zealand?

A) There are restrictions in the free movement of people between the two countries. B) There are trade barriers and border restrictions between the two countries. C) There is a major challenge facing marketers in Australia regarding high marketing costs for distributing goods internationally. D) There has been an increase in the relative wealth of New Zealand due to an increase in prices for agricultural commodities.

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The leader of Country X has decided that the nation should join the IMF and has agreed to the rules and regulations of the IMF. Now Country X must ________

A) pay a quota to the IMF B) locate a sponsoring IMF country C) pay each of the IMF members an entrance fee D) agree to an IMF investigation of government spending

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