A $40,000 Asset Was Purchased and Classified as a Class

question 48

Multiple Choice

A $40,000 asset was purchased and classified as a Class 10 asset for CCA purposes. If the CCA rate is 30%, calculate CCA for year 5.

• A) $3,499
• B) $4,500
• C) $5,050
• D) $5,500
• E) $6,000

Understand the concept and characteristics of formal operational thought in developmental psychology.

Identify and describe coping styles and their impact on adolescent mental health.

Explain Elkind's theory of adolescent egocentrism, including personal fable and imaginary audience concepts.

Discuss the fluidity and determinants of sexual orientation during adolescence.

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Definitions:

Spending Variances

The differences between the budgeted or planned amounts of spending and the actual amounts spent.

Customers Served

The total number of customers who receive service or products from a business within a given time period.

Revenue

The total amount of income generated from the sale of goods or services before any expenses are subtracted.

Spending Variances

Differences between the actual spending and the budgeted or planned spending in a given period, often analyzed in cost and managerial accounting.