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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Definitions:

Comparative Research Framework

A methodology that involves comparing two or more groups, entities, or cases, in real-life or experimental settings, to draw conclusions about their similarities or differences.

Psychological Variables

Factors that can be varied or measured in experiments or studies that reflect emotional, cognitive, and behavioral aspects of individuals.

Majority White

Descriptive term for a population, group, or area in which White individuals constitute the largest racial group but not necessarily more than half of the total population.

Subjective Social Status

An individual's perception of their own position within a social hierarchy, often measured through self-reporting tools.