An Asset Being Depreciated with the Straight-Line Method Has a Residual

question 13

Multiple Choice

An asset being depreciated with the straight-line method has a residual value of $10,000 and accumulated depreciation of $30,000 in its second year.What was the original cost of the asset if its useful life was 5 years?

• A)$160,000
• B)$140,000
• C)$ 85,000
• D)$75,000

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Definitions:

Second-Order Changes

Transformative changes within systems that modify the fundamental structures or rules, leading to a qualitative difference in the system's behavior.

Family System Structures

The organizational hierarchy, roles, and boundaries within a family that influence behavior and interactions.

Problem Solving

A cognitive process aimed at finding solutions to difficult or complex issues by identifying, analyzing, and resolving them.

Minority Families

Families belonging to a racial, ethnic, cultural, or religious minority group within a society.