Marketable securities are:

Select one:

A.

Sold for a gain when cash received is less than the cost basis.

B.

Listed immediately after Inventory on the balance sheet.

C.

Originally recorded at cost less any broker's commission.

D.

Almost as liquid as cash.

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When straight-line depreciation is in use, the depreciation rate of an asset is equal to:

Select one:

A.

The cost of the asset divided by the life of the asset.

B.

1 divided by the cost of the asset.

C.

The cost of the asset less its salvage value divided by the life of the asset.

D.

1 divided by the life of the asset.

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The specific identification method is more appropriate than a cost flow assumption method:

Select one:

A.

For a large inventory of identical low-priced items.

B.

If purchase costs are rising.

C.

If purchase costs are falling.

D.

If each item in the inventory is unique.