A Plant Asset Has a Cost of $24,000 and a Salvage

question 64

Multiple Choice

A plant asset has a cost of $24,000 and a salvage value of $6,000.The asset has a three-year life.If depreciation in the third year amounted to $3,000, which depreciation method was used?

• A)Straight-line
• B)Declining-balance
• C)Sum-of-the-years'-digits
• D)Cannot tell from information given

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