Use the Information Presented Below for Farley River, Inc

question 161

Multiple Choice

Use the information presented below for Farley River, Inc. for 2015 and 2014 to answer the questions that follow. Farley River uses the straight-line depreciation method.

-Refer to the information for Farley River, Inc. Using the 2015 data, what is the average life of Farley River's property, plant, and equipment rounded to one
Decimal place?

• A) 1.6 years
• B) 2.5 years
• C) 4.0 years
• D) 10.0 years

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Definitions:

Retroactive Promotions

The act of granting a promotion or benefits to an employee effective from a date in the past.

Equal Pay Act

A law aimed at abolishing wage disparity based on sex by ensuring equal pay for equal work among men and women.

Seniority System

A system in which those who have worked longest for an employer are first in line for promotions, salary increases, and other benefits, and are last to be laid off if the workforce must be reduced.

Compensatory Damages

Compensatory Damages are monetary awards given to individuals to compensate for actual loss, damage, or injury, aimed at restoring the injured party to their original position.