Lorna Smith decided to start her own CPA practice as a profe…

Lorna Smith decided to start her own CPA practice as a professional corporation, Smith CPA PC. Her corporation purchased an office building for $35,000 that her real estate agent said was worth $50,000 in the current market. The corporation recorded the building as a $50,000 asset because Lorna believes that is the real value of the building. Which of the following concepts or principles of accounting is being violated?

Benedryl Classification: ___________________________________…

Benedryl Classification: ______________________________________________________________________________________ Mechanism: ________________________________________________________________ Indications:  ______________________________________________________________________________________ Side effects:  ______________________________________________________________________________________ Contraindication: ______________________________________________________________________________________ Dosage:  ______________________________________________________________________________________  

(Don’t include any negative signs in your answer) Suppose yo…

(Don’t include any negative signs in your answer) Suppose you have a choice of 3 schools. The Elite School will give you $130,000 of benefit, and cost you $110,000.  The Mid School will give you $50,000 of benefit, and cost you $40,000. The Safe School will give you $15,000 of benefit, but cost you nothing because of scholarships.  What is the economic surplus of the Elite School?  Relevant Equations Below: