The difference between the cost of a depreciable
asset and its related accumulated depreciation is referred to as the:
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blue
book value of the asset.
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book
value of the asset.
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depreciated
difference of the asset.
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market
value of the asset.
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When the terms of sale include a sales discount,
it usually is advisable for the buyer to pay within the discount period.
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True
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False
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Gross profit rate is computed by dividing cost of
goods sold by net sales.
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True
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False
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Freight-out appears as an operating expense in
the income statement.
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True
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False
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