On October 1, 2022, Ming Wo Ltd

question 45

Multiple Choice

On October 1, 2022, Ming Wo Ltd.places a new asset into service.The cost of the asset is $16,000 with an estimated 5-year life and $4,000 residual value.If Ming Wo uses straight-line depreciation, the depreciation expense for the year ended January 31, 2023 is

• A)$ 600.
• B)$ 800.
• C)$1,067.
• D)$2,400.

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Definitions:

Human Resource Planning

The process of ensuring that an organization has the right number and types of employees, at the right time and place, who are capable of effectively and efficiently completing tasks that will help the organization achieve its overall strategic objectives.

Strategic Planning

Procedures for making decisions about the organization’s long-term goals and strategies.

Balanced Scorecard

A management and planning methodology aimed at aligning organizational activities with its vision and strategy, enhancing communication both internally and externally, while tracking the organization's performance in relation to its strategic objectives.

Strategic Alignment

The process of aligning an organization's resources and actions with its strategic objectives to achieve long-term goals.