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Please answer these questions: The future value of a single sum is determined by...

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Accounting

Please answer these questions:

  1. The future value of a single sum is determined by multiplying the future value factor by its present value. True or False.
  2. In all cases when FIFO is used, the cost of goods sold would be the same whether a perpetual or periodic system is used. True or False.
  3. Avoidable interest is the amount of interest cost that a company could theoretically avoid if it had not made expenditures for the asset. True or False.
  4. The declining-balance method does not deduct the salvage value in computing the depreciation base. True or False.
  5. Select the correct option: To produce an inventory valuation which approximates the lower of cost or market using the conventional retail inventory method, the computation of the ratio of cost to retail should: a) include markups but not markdowns. b) include markups and markdowns. c) ignore both markups and markdowns. d) include markdowns but not markups.
  6. Which of the following would be considered research and development? a) Routine efforts to refine an existing product. b) Periodic alterations to existing production lines. c) Marketing research to promote a new product. d) Construction of prototypes.

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