An Asset Was Purchased for $250000

question 241

Multiple Choice

An asset was purchased for $250000. It had an estimated salvage value of $50000 and an estimated useful life of 10 years. After 5 years of use the estimated salvage value is revised to $40000 but the estimated useful life is unchanged. Assuming straight-line depreciation depreciation expense in year 6 would be

• A) $30000.
• B) $22000.
• C) $15000.
• D) $21000.

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Definitions:

Critical Value

A point on the scale of the test statistic beyond which we reject the null hypothesis; it is dependent on the chosen significance level.

Curriculum

A structured set of educational and training goals, content, methods, and materials used in teaching and learning environments.

Freshman Year

The first year at a university, college, or high school for a student, marking the commencement of their academic journey in that institution.

Type II Error

A statistical mistake made when a true alternative hypothesis is incorrectly rejected, meaning that a false null hypothesis is not rejected.