You recently purchased a grocery store. At the time of the purchase, the store's market value equaled its book value

You recently purchased a grocery store. At the time of the purchase, the store's market value equaled its book value. The purchase included the building, the fixtures, and the inventory. Which one of the following is most apt to cause the market value of this store to be lower than the book value?    A.  a sudden and unexpected increase in inflation B.  the replacement of old inventory items with more desirable products C.  improvements to the surrounding area by other store owners D.  construction of a new restricted access highway located between the store and the surrounding residential areas E.  addition of a stop light at the main entrance to the store's parking lot Refer to section 2.1

28.

Which one of the following is true according to Generally Accepted Accounting Principles?    A.  Depreciation may or may not be recorded at management's discretion. B.  Income is recorded based on the matching principle. C.  Costs are recorded based on the realization principle. D.  Depreciation is recorded based on the recognition principle. E.  Costs of goods sold are recorded based on the matching principle. Refer to section 2.2

29.	Which one of these is most apt to be a fixed cost?    A.  raw materials B.  manufacturing wages C.  management bonuses D.  office salaries E.  shipping and freight Refer to section 2.2

30.	Which one of the following costs is most apt to be a fixed cost?    A.  production labor cost B.  depreciation C.  raw materials D.  utilities E.  sales commissions Refer to section 2.2

31.

Which of the following are expenses for accounting purposes but are not operating cash flows for financial purposes? I. interest expense II. taxes III. costs of goods sold IV. depreciation    A.  IV only B.  II and IV only C.  I and III only D.  I and IV only E.  I, II, and IV only Refer to sections 2.2 and 2.4