1. According to the Week 6 lecture, how can a business increase sales of the company?
2. What kind of a fee do you have to pay if you accept credit cards?
3. What term is used to describe the value of a company has through its reputation?
4. Would goodwill be considered a tangible or an intangible asset?
5. What is the equivalent of depreciation for an intangible asset?
6. What is the equivalent of depreciation for a natural resource?
7. What are the three items needed to calculate depreciation?
8. A piece of equipment is purchased for $10,000, has a salvage value of $2,000, and an estimated useful life of 4 years. Using the straight-line depreciation method, how much is depreciated per year for the next 4 years?
9. A piece of equipment is purchased for $10,000, has a salvage value of $2,000, and an estimated useful life of 4 years. Using the double-declining balance method, how much is depreciated per year for the next 2 years?
10. How does an “Accumulated Deprecation” account get increased; debit or credit?
11. What are the three levels of the Cash Flow Statement?
12. What type of income statement separates out the “Gross Margin”, “Operating Income” and “Net Income”?
13. What does FUTA stand for?
14. What does FICA stand for?
15. What amount is income capped at to pay FICA – Social Security Tax on?
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