Which Statement Best Describes the Concept Represented by the Adage

question 14

Multiple Choice

Which statement best describes the concept represented by the adage "There is no such thing as a free lunch"?

• A) Melissa can only attend the concert if she takes her sister with her.
• B) Greg is hungry and homeless.
• C) Brian must repair the tire on his bike before he can ride it to class.
• D) Olivia must decide between skiing at Whistler or Lake Louise for spring break.

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Definitions:

Depreciable Cost

The cost of an asset that is subject to depreciation over its useful life, excluding any salvage value.

Double-Declining-Balance Rate

A method of accelerated depreciation where an asset's book value is reduced at double the rate of its straight-line depreciation each year.

Double-Declining-Balance Depreciation

A method of accelerated depreciation that applies twice the normal depreciation rate on the declining balance of an asset.

Straight-Line Depreciation

A technique for spreading the expense of a physical asset evenly across its lifespan.