A city builds sidewalks throughout its various neighborhoods at a cost of $2.1 million. Which of the following is not true? Because the sidewalks qualify as infrastructure, the asset is viewed in the same way as land so that no depreciation is recorded. Depreciation is required unless the modified approach is utilized. The modified approach recognizes maintenance expense in lieu of depreciation expense for qualifying infrastructure assets. The modified approach is allowed only if the city maintains the network of sidewalks at least at a predetermined condition.

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.