An Equipment Was Purchased for $15,000

question 56

Multiple Choice

An equipment was purchased for $15,000.It has a useful life of 5 years and a residual value of $4,000.Determine the depreciation expense for the first year using the double-declining-balance method?

• A) $5,400
• B) $6,000
• C) $2,200
• D) $2,600

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Definitions:

Eliminating Objections

A sales technique aimed at addressing and overcoming potential concerns or objections raised by a prospective buyer.

Creative Problem Solving

Creative problem solving is an approach that uses imagination and innovation to find solutions to challenges.

Implementing Solution

The process of putting a plan or strategy into action to address a problem or achieve a goal, often involving logistical, technical, and organizational steps.

Documenting Needs

The process of recording and identifying a customer's requirements to find the most suitable product or service solution.