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

---

Definitions:

Wording

The choice and use of words in speech or writing, impacting communication effectiveness and interpretation.

Extrinsic Motivation

The desire to perform a behavior to receive promised rewards or avoid threatened punishment.

Creativity

The ability to produce original and valuable ideas, involving imagination and the generation of new solutions to problems.

Venturesome Personality

A personality type characterized by a willingness to take risks and try new experiences.