A Long-Lived Asset Cost $24,000 and Is Estimated to Have

question 200

Multiple Choice

A long-lived asset cost $24,000 and is estimated to have a $3,000 residual value at the end of its 8-year useful life. The annual depreciation expense recorded for the third year using the double diminishing-balance method would be

• A) $2,010.
• B) $3,375.
• C) $2,953.
• D) $2,297.

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Definitions:

Holophrases

Single-word expressions used by infants that convey complete ideas or requests.

Grammar

Grammar is the set of structural rules governing the composition of clauses, phrases, and words in any given natural language.

Child-Directed Speech

A simplified and exaggerated form of language used by adults when talking to young children, aiding language acquisition.

Adult Patterns

Established behaviors, habits, or routines that are characteristic of adult life, often related to responsibilities, relationships, and social norms.