On April 1, 2022, Check Mate Ltd

question 67

Multiple Choice

On April 1, 2022, Check Mate Ltd.places a new asset into service.The cost of the asset is $40,000 with an estimated 8-year life and $2,500 residual value.Assuming that Check Mate uses the double diminishing-balance method of depreciation, what is the carrying amount of the asset at December 31, 2022?

• A)$32,500
• B)$30,625
• C)$38,125
• D)$35,000

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Definitions:

Reward

A beneficial outcome or positive stimulus that increases the likelihood of a behavior being repeated through the process of reinforcement.

Tolman's Model

A cognitive theory of learning that emphasizes the role of mental processes and latent learning, proposing that organisms create cognitive maps of their environment.

Hull's Model

A theory proposed by Clark Hull that describes behavior as the outcome of internal drives, environmental stimuli, and reinforcement.

Reward

A positive consequence or incentive that increases the likelihood of a behavior being repeated.