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NEW QUESTION 1269
Vince Inc. changed from the double-declining balance to the straight-line method of depreciation during 20×3. Total depreciation expense for previous years under the double-declining balance method totaled $29,000. Vince Inc. calculated that if the straight-line method had been used, depreciation would have totaled $17,000. Vince Inc. is taxed at a rate of 34 percent. What is the cumulative effect of the accounting change that should be reported on Vince’s income statement for the year ended 20×3?

NEW QUESTION 1270
Fran Dew is an analyst at a large brokerage house. Her husband, John, is an equity salesman at the same brokerage house. John is holding a large position of stock in a company called QRE. QRE have performed very badly of late and John is battling to sell the stock. John calls Fran and asks her as a special favor to him if she can please call some of her institutional clients and sell them large quantities of
QRE. Fran does this and sells off a large quantity of stock to her large clients. In terms of CFA Institute’s
Standards of Professional Conduct per Standard I). B.
(Independence and Objectivity), has Fran violated this Standard?

NEW QUESTION 1271
Which of the following is secured only by the reputation of the issuing firm?

NEW QUESTION 1272
Which institutional investor has the longest investment time horizon?

NEW QUESTION 1273
Which one of the following statements regarding the effect of leases on financial ratios (in early years) is CORRECT?

NEW QUESTION 1274
Interstate Transportation Company exchanged a number of used trucks plus cash for vacant land that might be used for a future plant site. The trucks have a combined book value of $42,000 (cost
$ 64,000 less $22,000 accumulated depreciation) and estimated market value of $49,000. Interstate must pay $17,000 cash and trucks for the land. How much should Interstate record as the land’s value?

NEW QUESTION 1275
Assume that a company announces an unexpectedly large cash dividend to its shareholders. In an efficient market without information leakage, one might expect:

NEW QUESTION 1276
When comparing FIFO with LIFO, which of these arguments is incorrect? (Assume rising prices.)

NEW QUESTION 1277
Under the null hypothesis, Ho, x = y. Under the alternative hypothesis, x does not equal y. If the critical z-statistic for the desired significance level is 1.68 and you find the z-statistic to be -3.2, you should:

NEW QUESTION 1278
Greenbelt Processors had a beginning inventory of 798 units valued at a cost of 34,895. It purchased
4 ,474 units of new inventory worth 195,402 during the year. A year-end audit revealed that it had 853 units on hand.If Greenbelt uses the FIFO method, what was its COGS for the year?

NEW QUESTION 1279
Which approach predicts that if an economy operates at full employment and faces a trade deficit, currency devaluation (depreciation) will improve the trade balance only if domestic spending is cut, thus freeing resources to produce exports?

NEW QUESTION 1280
If the one month exchange rate $:E(EUR) is 0.7928-30, this implies:

NEW QUESTION 1281
A defined benefit pension plan is associated with:

NEW QUESTION 1282
An Indian software engineer works for a computer manufacturer in San Jose. He makes $60,000 a year and sends $10,000 to his family in India each year. The amount should be counted towards US GDP is:

NEW QUESTION 1283
Under what circumstances should a company defer and amortize costs incurred in defending a patent against an infringement?

NEW QUESTION 1284
Money serves as a unit of account because

NEW QUESTION 1285
Use of the percentage-of-completion method, versus the completed contract method results in:

NEW QUESTION 1286
According to the quantity theory of money, which one of the following economic variables would change in response to an increase in the money supply?

NEW QUESTION 1287
In reference to the Discount on Bonds Payable and Premium on Bonds Payable accounts, which statement is true?

NEW QUESTION 1288
Consider bond XYZ with a duration of 6.33. Suppose that the market value of this bond is $3 million.
The approximate dollar price change for a 100 basis point change in yield is

NEW QUESTION 1289
The passage of time usually

NEW QUESTION 1290
Which of the following is NOT incorporated into calculation of the DuPont identity?