Use the Information Below to Answer the Following Questions

question 117

Multiple Choice

Use the information below to answer the following questions.
Fact 20.1.1
At the beginning of 2012, Peter's Perfectly Prickly Piercing Parlour had $5,000 worth of bellybutton and eyebrow rings on hand, 2 computers (each worth $1,000) , 1 cash register worth $100, electrical equipment worth $500, and one piercing needle worth $500.At the end of 2012, they had $5,000 worth of bellybutton and eyebrow rings, a new high speed computer worth $3,000 (they had to throw out the old ones) , the same cash register, which was now worthless, electrical equipment worth $600, and they had upgraded the needle at a cost of $700 which was valued at $1,000.
-Refer to Fact 20.1.1.Peter's depreciation in 2012 is

• A)$2,300.
• B)$800.
• C)zero.
• D)$1,000.
• E)$3,000.

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Definitions:

Bank Account

A financial account maintained by a bank for a customer, allowing the customer to deposit and withdraw money and possibly earn interest.

Password

A secret word or phrase used to authenticate or gain access to a resource.

Budget

A plan for managing income and expenditure over a specific period.

Substantial Income

A significant amount of money earned, usually enough to support a high standard of living or fulfill financial goals.