You Paid $140 for a Biology Textbook at the Beginning

question 208

Multiple Choice

You paid $140 for a biology textbook at the beginning of the semester. At the end of the semester you sell the textbook for $85. The textbook has depreciated

• A) $140.00.
• B) $85.00.
• C) $55.00.
• D) an indeterminate amount based on this information.

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Definitions:

S Corporations

A type of corporation that meets specific Internal Revenue Code requirements, allowing profits to be passed directly to shareholders and avoid double taxation.