1. Which statement is false concerning the liquidation basis of accounting? A. Previously unreported identifiable intangible assets are reported at fair value. B. Liabilities are reported at full book value, unless terms have been legally renegotiated. C. Expected liquidation costs are netted against asset fair values. D. Expected compensation to be paid is accrued as a liability, even if it has not yet been earned.

Suppose that a paving company produces paved parking spaces (q) using a fixed quantity of land (t) and variable quantities of cement (c) and labor (l). the firm is currently paving 1,000 parking spaces. the firm's cost of cement is $3 comma 600.003,600.00 per acre covered (c) and its cost of labor is $35.0035.00/hour (w). for the quantities of c and l that the firm has chosen, mp subscript upper c baseline equals 60mpc=60 and mp subscript upper l baseline equals 7mpl=7. is this firm minimizing its cost of producing parking spaces?