Which of the following is a true statement about accounting for business activities? a. an overall accounting method can only be adopted with the permission of the commissioner. b. an overall accounting method is initially adopted on the first return filed for the business. c. the cash method can only be adopted by individual taxpayers. d. the accrual method can only be adopted by corporate taxpayers. e. none of these is true.

Amachine purchased three years ago for $720,000 has a current book value using straight-line depreciation of $400,000: its operating expenses are $60,000 per year. a replacement machine would cost $480,000, have a useful life of nine years, and would require $26,000 per year in operating expenses. it has an expected salvage value of $130,000 after nine years. the current disposal value of the old machine is $170,000: if it is kept 9 more years, its residual value would be $20,000. calculate the total costs in keeping the old machine and purchase a new machine. should the old machine be replaced?

Who has summer school : ( because i do : (

Which statement best explains the relationship between points a and b? a. consumption reaches its highest point, and then supply begins to fall. b. inflation reaches its highest point, and then the economy begins to expand. c. production reaches its highest point, and then the economy begins to contract. d. unemployment reaches its highest point, and then inflation begins to decrease.