Fleet Services Company Purchased Equipment for $12,000 on January 1

question 60

Multiple Choice

Fleet Services Company purchased equipment for $12,000 on January 1, 2022.The company expects to use the equipment for 5 years.It has no salvage value.What balance would be reported on the December 31, 2022 balance sheet for Accumulated Depreciation?

• A)$0 because Accumulated Depreciation is reported on the Income Statement.
• B)$2,400
• C)$9,600
• D)$12,000

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Definitions:

Unavoidable Tactic

A strategy so essential to a situation that avoiding it could significantly impact the outcome.

Full Control

A situation or condition where an individual or organization has complete authority and power over a particular area or process.

Avoid Greater Harm

A principle or strategy aimed at preventing actions or decisions that could lead to more serious or extensive damage.

End-Results Ethics

An ethical perspective that judges the morality of actions based on the outcomes or consequences they produce.