On 1 January 2015,a New Motor Vehicle with a Useful

question 24

Multiple Choice

On 1 January 2015,a new motor vehicle with a useful life of four years and an estimated trade-in value of $12 000 was purchased by a business for $54 000.The straight-line method is employed and the financial year ends on 31 December.
- What was the net book value at 31 December 2017?

• A) $12 500
• B) $22 500
• C) $42 000
• D) $43 500

Understand the characteristics of the moss life cycle.

Differentiate between haploid and diploid cells in plants.

Explain the limitation of plant height in mosses.

Understand the evolutionary adaptation and significance of megaphylls in plant evolution.

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Definitions:

Long-Run Cost

The expenses a firm incurs over a period where all inputs are variable, thus considering the scalability and technology change effects on production costs.

Constant-Cost Industry

An industry in which the cost of production does not change significantly with either an increase or decrease in output levels.

Constant-cost Industry

An industry in which the input prices do not change as the industry's output changes.

Competitive Market

A market structure where multiple firms offer similar or identical products or services, and no single firm can significantly influence market prices.