What Would the Book Value Be at the End of Year

question 127

Multiple Choice

What would the book value be at the end of year 6 for a piece of equipment using the straight-line method when cost is $11,000,residual value is $1,000,and the expected life is 10 years?

• A)$4,400
• B)$3,000
• C)$5,000
• D)$4,000

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Definitions:

Elastic

Describes a situation in which the quantity demanded or supplied of a good or service changes significantly in response to a change in price.

Total Revenues

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Elastic Demand

Elastic demand refers to a situation where the quantity demanded of a product changes significantly in response to changes in its price.

Consultant

A professional who provides expert advice in a particular area or industry.