Identify whether the following expenditures is recorded as an asset or an expense. Assume all items are material. (a) Legal fees paid in connection with the purchase of land are $1,500. select between asset or expense (b) Eduardo, Inc. paves the driveway leading to the office building at a cost of $21,000. select between asset or expense (c) A meat market purchases a meat-grinding machine at a cost of $3,500.

Modern firms increasingly rely on other firms to supply goods and services instead of doing these tasks themselves. this increased level of is leading to increased emphasis on management.

An important source of public scrutiny is "watchdogs." these are: the efforts of a firm's competitors, including how often the competitors attack the firm's strategies. taxpayer-supported government agencies that limit a firm's ability to compete in foreign markets. companies designated by the government to only produce products that support the government defense program. socially conscious groups that make it their mission to measure the social responsibility levels of businesses, and provide consumers with their opinions about the level of corporate responsibility of various companies.

If the reserve requirement is 10 percent, what amount of excess reserves does a bank acquire when a business deposits a $500 check drawn on another bank?