On January 1, 2022, M

question 132

Multiple Choice

On January 1, 2022, M.Johanson Company purchased equipment for $54,000.The company is depreciating the equipment at the rate of $750 per month.The book value of the equipment at December 31, 2022 is:

• A)$0.
• B)$9,000.
• C)$45,000.
• D)$54,000.

---

Definitions:

Resources Used

The total inputs, including raw materials, labor, and capital, that are consumed in the production of goods and services.

Capital

Assets such as machinery, buildings, or technology used in the production of goods and services.

Labor

The human effort, both physical and mental, used in the production of goods and services.

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.