WZ Acquired Some Machinery on January 2, 20x1

question 45

Multiple Choice

WZ acquired some machinery on January 2, 20x1.WZ used straight-line depreciation with an estimated life of 15 years with no residual value.On January 1, 20x6, WZ estimated that the remaining life of this machinery was 6 years with no residual value.How should this change be accounted for by WZ?

• A)Estimating the effect of the change on each year's net earnings, but maintaining the method of depreciation as originally determined.
• B)Revising future depreciation per year, computed by dividing the book value on January 1, 20x6 by six.
• C)Revising future depreciation per year, computed by dividing the original cost by six.
• D)None of these choices are correct.

Know how to use the pooled proportion estimate in hypothesis testing.

Recognize the conditions required for using the normal approximation to the binomial in testing differences between population proportions.

Calculate and interpret the p-value in hypothesis testing.

Apply statistical methods to evaluate differences in opinions or behaviors between two groups.

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Professional Codes of Ethics

Sets of guidelines designed to outline acceptable behaviors and decision-making processes for professionals within specific industries.