(Ignore income taxes in this problem.) Given the following data: The life of the equipment must be:

A) it is impossible to determine from the data given
B) 5 years
C) 6 years
D) 7 years

The primary benefits of budgeting include all of the following except it

A) requires only top management to plan ahead and formalize their future goals.
B) provides definite objectives for evaluating performance.
C) creates an early warning system for potential problems.
D) motivates personnel throughout the organization.

Which of the following would shift the supply curve of a good to the left?

A) An increase in the price of that good
B) A decrease in the price of an alternative good
C) An improvement in technology used in producing the good
D) An increase in the cost of an important resource used to produce the good
E) An increase in the number of producers of the good

Pro Motor Company makes cars. Federal law requires Pro to attach a label that includes the Environmental Protection Agency's fuel economy estimate for a vehicle to

A) every new car.
B) no car-compliance with the law is voluntary.
C) select old and new cars.
D) every car.

What skill is critical as globalization takes hold?

A) financial understanding
B) technical knowledge
C) creative writing
D) communication with worldview

Krammer Company has liabilities equal to one-fourth of the total assets. Krammer's owner's equity is $45,000. Using the accounting equation, what is the amount of liabilities for Krammer?