Equipment Was Purchased on January 1 for $39,000 with an Estimated

question 140

Multiple Choice

Equipment was purchased on January 1 for $39,000 with an estimated residual value of $3,000.The current year's Depreciation Expense is $4,000, calculated on the straight-line basis, and the balance of the Accumulated Depreciation account at the end of the year is $12,000.The remaining useful life of the equipment is

• A)3 years.
• B)5 years.
• C)6 years.
• D)9 years.

Understand the concept of objectives setting and its significance in planning.

Articulate the relationship between planning and control within organizations.

Elucidate the differences between strategic, operational, and tactical planning.

Explain the importance of priorities and objectives in organizational planning and decision-making.

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Definitions:

Product Life Cycle

The sequence of stages that a product moves through, starting from its introduction, advancing to growth, reaching maturity, and finally declining in the market.

Growth Stage

A phase in the product life cycle characterized by rapid market expansion, increased sales, and the successful establishment of a product in the market.

Sales Increases

A rise in the volume or value of products or services sold, reflecting positive growth for a business.

LED Lightbulbs

Energy-efficient lighting options that use light-emitting diodes to produce light, known for their longevity and lower energy consumption compared to traditional bulbs.