An Asset Being Depreciated with the Straight-Line Method Has a Residual

question 35

Multiple Choice

An asset being depreciated with the straight-line method has a residual value of $10,000 and accumulated depreciation expense of $30,000 in its second year. What was the original cost of the asset if its useful life was 5 years?

• A) $160,000
• B) $140,000
• C) $ 85,000
• D) $75,000

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Definitions:

Transactional Leadership

A style of leadership that focuses on the exchanges between leaders and followers to achieve organizational goals.

Authentic Leadership

A leadership style characterized by genuine self-expression that is consistent with inner thoughts and feelings, encouraging transparency and integrity.

Transformational Leadership

A leadership style where leaders work with teams to identify needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of the group.

Transformational Leadership

A style of leadership characterized by inspiring and motivating followers to exceed their own interests for the good of the group or organization.