The Balance in Accumulated Depreciation on January 1 and December

question 25

Multiple Choice

The balance in accumulated depreciation on January 1 and December 31 is $12,000 and $9,000, respectively, during a year in which an asset with a cost of $4,000 and net book value of $0 was retired. Depreciation expense for the current year is:

• A)$9,000.
• B)$3,000.
• C)$1,000.
• D)$7,000.

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Definitions:

Normative Commitment

An employee's psychological attachment to an organization, stemming from a sense of obligation.

Organizational Commitment

The psychological attachment and loyalty an employee has towards their organization, often reflected in their willingness to remain a part of it.

Forms of Commitment

Refers to the different ways individuals can be attached to an organization, including emotional attachment (affective commitment), obligation (normative commitment), and cost-based attachment (continuance commitment).

Normative Commitment

A feeling of obligation to remain with an organization because of moral or ethical beliefs.