Robert Purchased a Truck for $50,000 with a Residual Value

question 27

Multiple Choice

Robert purchased a truck for $50,000 with a residual value of $20,000 and a life expectancy of 5 years;using straight-line depreciation,the amount of the depreciation adjustment for the first year would be:

• A)$5,000.
• B)$6,000.
• C)$6,400.
• D)$4,000.

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Definitions:

Replacement

The action or process of substituting a person or thing with another, often because the original is old, broken, or no longer suitable.

Costs

The monetary value required to produce goods or services, including manufacturing, labor, and materials expenses.

Benefits

Advantages or financial assistance provided, typically by an employer, the government, or insurance.

HRM Specialists

Professionals in the field of Human Resource Management who focus on specific areas such as recruitment, training, performance management, and employee relations.