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bachelor in business administration
Polytechnic State University Sanluis
Jan-2006 - Nov-2010
CPA
Polytechnic State University
Jan-2012 - Nov-2016
Professor
Harvard Square Academy (HS2)
Mar-2012 - Present
1.     Which of the following qualities are characteristics of fixed assets? (a) tangible, (b) capable of repeated use in the operations of the business, (c) held for sale in the nor- mal course of business, (d) used continuously in the op- erations of the business, (e) long-lived
2.     Penguin Office Equipment Co. has a fleet of automobiles and trucks for use by salespersons and for delivery of of- fice supplies and equipment. Sioux City Auto Sales Co. has automobiles and trucks for sale. Under what caption would the automobiles and trucks be reported on the bal- ance sheet of (a) Penguin Office Equipment Co., (b) Sioux City Auto Sales Co.?
3.     Spiral Co. acquired an adjacent vacant lot with the hope of selling it in the future at a gain. The lot is not intended to be used in Spiral’s business operations. Where should such real estate be listed in the balance sheet?
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