What is a contract called where the seller agrees to pay a commission and the broker agrees to use diligence in finding a buyer?

An improvement made to a machine increased its fair value and its production capacity by 25% without extending the machine's useful life. The cost of the improvement should be

a. expensed. b. debited to accumulated depreciation. c. capitalized in the machine account. d. allocated between accumulated depreciation and the machine account.

The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called ______.

Fill in the blank(s) with the appropriate word(s).