A Plant Asset Has a Cost of $48,000 and a Residual

question 15

Multiple Choice

A plant asset has a cost of $48,000 and a residual value of $12,000.The asset has a three-year life.If depreciation in the second year amounted to $4,000, which depreciation method was used?

• A)Straight-line
• B)Double declining-balance
• C)Activity method
• D)Cannot tell from information given

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Definitions:

Phenotype

The set of observable characteristics or traits of an organism, resulting from the interaction of its genotype with the environment.

Genetic Variation

The differences in DNA sequences among individuals in a population, which can lead to variations in physical appearance, behavior, and susceptibility to diseases.

Eukaryotes

Organisms whose cells contain a nucleus enclosed within a membrane, including animals, plants, and fungi.

Archaea

A domain of single-celled microorganisms that are genetically distinct from bacteria and eukaryotes, often found in extreme environments.