Fireworks City Information for 2020 and 2019 Is Presented Below for This

question 170

Multiple Choice

Fireworks City
Information for 2020 and 2019 is presented below for this company which uses the straight-line depreciation method.
-Refer to Fireworks City. Using the data for 2020, determine the average life of the company's property, plant, and equipment rounded to one decimal place.

• A)1.6 years
• B)2.5 years
• C)4.0 years
• D)10.0 years

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Definitions:

Transaction

An exchange or transfer of goods, services, or funds between parties.

Substitutes

Products or services that can replace each other in use, satisfying the same customer need or demand.

Oligopoly

Defines a market structure characterized by a small number of firms dominating the market, leading to limited competition.

Brand Loyalty

Occurs when a consumer buys the same brand’s product or service repeatedly over time rather than buying from multiple suppliers within the same category.