Equipment Purchased at the Beginning of the Year for $200,000

question 163

Multiple Choice

Equipment purchased at the beginning of the year for $200,000 with a residual value of $20,000 is being depreciated over a 5-year period using the double-declining-balance method. Which of the following statements is correct concerning the financial statements at the end of the year?

• A)The equipment account now has a balance of $120,000.
• B)The book value of the equipment is now $80,000.
• C)The accumulated depreciation account balance is now $80,000.
• D)Depreciation expense for the year is $72,000.

Recognizing different types of social control and their applications in society.

Understanding the impact of social theories on societal norms and policies, especially concerning gender and crime.

Analyzing the role of social adaptation strategies in response to societal pressures.

Evaluating the historical and societal context in which crimes against women were recognized and addressed.

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Definitions:

Assimilation

The process by which individuals incorporate new information into existing schemas or frameworks of understanding.

Concrete Operational Stage

A stage in Piaget's theory of cognitive development, where children aged about 7 to 12 years can think logically about concrete events.

Decentering Stage

A cognitive development stage in which children start to understand perspectives and feelings of others, moving beyond self-centered thought.

Abstract Operational Stage

A stage of cognitive development in Jean Piaget's theory, typically occurring from around age 12 and up, when individuals gain the ability to think abstractly and logically.