TLC Homecare Ltd. owns 100% of Errand Service for Seniors Ltd. (ESS) . On January 2, 20X1, TLC bought 12 identical cars for $300,000. It promptly sold four of the cars to ESS for $112,000. ESS will amortize the cars over five years using the straight-line method. At December 31, 20X2, what is the net adjustment that should be made to accumulated depreciation in TLC's consolidated financial statements? Ignore income taxes.

A) $0
B) Reduction of $2,400
C) Reduction of $4,800
D) Reduction of $5,600

The competitive market system

A) encourages innovation because government provides tax breaks and subsidies to those who develop new products or new productive techniques.
B) discourages innovation because it is difficult to acquire additional capital in the form of new machinery and equipment.
C) discourages innovation because firms want to get all the profits possible from existing machinery and equipment.
D) encourages innovation because successful innovators are rewarded with economic profits.

What is the difference between a reliable survey and a valid survey?

Firms that had virtual monopolies,that is control over at least 80 percent of industry production,because of control over an essential resource include all of the following except

A) the DeBeers Diamond Company.
B) the International Nickel Company.
C) the Ford Motor Company.
D) the Standard Oil Company.

Refer to Table 28-7. Calculate the number in the adult population, and the labor force participation rate.

When a business buyer decides to change specifications such as quality or options associated with products purchased in the past, the buyer is engaged in a(n) ________ situation.

A) new buy
B) modified rebuy
C) straight rebuy
D) adapted buy
E) side-by-side