On October 2,2016,Dave Acquired and Placed into Service 5-Year Business

question 36

Multiple Choice

On October 2,2016,Dave acquired and placed into service 5-year business equipment costing $70,000.No other acquisitions were made during the year.Dave does not use Sec.179 expensing,and the property does not qualify for bonus depreciation.The depreciation for this year is using the most accelerated method possible is

• A)$0.
• B)$3,500.
• C)$7,000.
• D)$14,000.

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Definitions:

Revenue

The total income generated by a business from its normal business operations, including sales of goods and services.

Planning Budget

A budget formulated at the beginning of the budgeting period that is based on planned operations and outputs.

Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Planning Budget

A budget created at the beginning of a period, based on estimates of revenues and expenses.