The Book Value of an Asset at the Beginning of the Year

question 117

Multiple Choice

The book value of an asset at the beginning of the year was $17,000. The equipment originally cost $27,000. Depreciation expense for the year was $8,000. The book value of the asset at the end of the year is:

• A)$19,000.
• B)$10,000.
• C)$17,000.
• D)$ 9,000.

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Definitions:

Stimulants

Drugs that speed up activity in the central nervous system.

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord, which integrates information and coordinates all bodily functions.

Speed Up

The act of increasing the rate at which something occurs or is performed.

Tranquilizer

A type of medication used to reduce tension or anxiety, often affecting the central nervous system to induce relaxation.