On december 29, 2015, patel products, inc., sells a delivery van that cost $20,000. after recording the entry to bring the accumulated depreciation up-to-date, the delivery van had accumulated depreciation of $18,000. patel received $2,000 cash from the purchaser of the delivery van. complete the necessary journal entry to record the sale by selecting the account names and dollar amounts from the drop-down menus.

Which of the following is a reason why it is important for students to study strategy and the strategic management process? answers: studying strategy and the strategic management process can give students tools to evaluate the strategies of firms that may employ them.it can be very important to a new hire's career success to understand the strategies of the firm that hired them and their place in implementing these strategies.while strategic choices are generally limited to very experienced senior managers in large organizations, in smaller and entrepreneurial firms many employees end up being involved in the strategic management process.all of these.

True or false: banks are required to make electronically deposited funds available on the same day of the deposit

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.