Which One of the Following Items Is Not a Consideration

question 249

Multiple Choice

Which one of the following items is not a consideration when recording periodic depreciation expense on plant assets?

• A) Salvage value
• B) Estimated useful life
• C) Cash needed to replace the plant asset
• D) Cost

Distinguish between relevant and irrelevant costs in various decision-making scenarios.

Understand and calculate contribution margin and contribution margin ratio.

Identify and compute the break-even point in units and dollars.

Compute variable and fixed costs from given data.

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Definitions:

Bequeath

The act of leaving personal property to someone through a will.

Personal Representative

A personal representative is an individual appointed to administer the estate of a deceased person under a will or through a court process.

Nonprobate

Refers to assets or property that will pass to survivors by means other than a will, such as through trust or designated beneficiary.

Ambulatory

A term pertaining to the ability of a will to be changed by a testator.