A retailer has a usage rate of 12 units per day, a lead time of 5 days, and a safety stock level of 4 units for a popular floor lamp. Its reorder point equals 55 units

A plant asset cost $27,000 when it was purchased on January 1, 2008. It was depreciated by the straight-line method based on a 9-year life with no salvage value. On June 30, 2015, the asset was discarded with no cash proceeds. What gain or loss should be recognized on the disposal?

A. No gain or loss B. $4,500 loss C. $3,000 gain D. $6,000 loss

The profession's ethical standards most likely are violated when a CPA represents that specific consulting services will be performed for a stated fee and it is apparent at the time of the representation that the

a. Actual fee would be substantially higher b. Actual fee would be substantially lower than the fees charged by other CPAs for comparable services c. CPA would not be independent d. Fee was a competitive bid