A Plant Asset Has a Cost of $32,000 and a Salvage

question 93

Multiple Choice

A plant asset has a cost of $32,000 and a salvage value of $8,000. The asset has a three-year life. If depreciation in the third year amounted to $4,000, 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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