With the Decline in Elementary School Student Population,Elizabeth Created a Business

question 62

Multiple Choice

With the decline in elementary school student population,Elizabeth created a business to convert excess portable space into private storage.Which trend is this related to?

• A) economic
• B) sociocultural
• C) technological
• D) demographic

---

Definitions:

Equipment

Tangible assets used in operations, such as machinery or office machines, which have a useful life longer than a year.

Straight-Line Method

A depreciation method that allocates an equal amount of the cost of an asset to each year of its useful life.

Fully Depreciated

A term used when a fixed asset has been depreciated to its salvage value and no longer carries a cost on the balance sheet except its possible residual value.

Loss on Disposal

Represents the financial loss a company incurs when it disposes of an asset for less than its carrying value.