Anika Company Purchased a Plot of Land for $100,000 on January

question 99

Multiple Choice

Anika Company purchased a plot of land for $100,000 on January 1^st. It plans to hold the land for 7 years and then sell it. What is the amount of annual depreciation to be recorded?

• A) 14,286
• B) 0
• C) 1,190
• D) 10,000

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Definitions:

DNA

DNA, the molecule responsible for carrying genetic information critical for the growth, development, functioning, and reproduction of all recognized living organisms and numerous viruses.

Codon

A sequence of three nucleotides in mRNA that specifies a particular amino acid or a start/stop signal in protein synthesis.

Nucleotides

The basic building blocks of DNA and RNA, composed of a sugar, a phosphate, and a nitrogenous base.

Amino Acids

Organic compounds that serve as the building blocks of proteins, critical for virtually all biological processes.