A Recent Private-Sector Study Showed That by the End of 2009

question 100

Multiple Choice

A recent private-sector study showed that by the end of 2009, a little less than 4 percent of Canadian households controlled what percent of the total wealth in Canada?

• A) 67 percent
• B) 53 percent
• C) 36 percent
• D) 25 percent

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Definitions:

Residual Value

Residual value is the estimated value of an asset at the end of its useful life.

Straight-Line

A technique for computing depreciation that uniformly distributes an asset's cost across its lifespan.

Units-Of-Production

A depreciation method that allocates an asset's cost based on its usage or production levels.

GAAP Methods

GAAP methods refer to accounting principles and guidelines set by the Financial Accounting Standards Board in the United States for preparing financial statements.