Which Statement Is an Example of an Economic Trend

question 56

Multiple Choice

Which statement is an example of an economic trend?

• A)The South African Reserve Bank announces that it will decrease the interest rate charged to banks.
• B)Government passes legislation that increases the tax rate on companies.
• C)A new computer chip is announced which will allow for miniaturisation of many electronic devices.
• D)The EU declares an increase in tariffs on all agricultural goods.

Discuss the impact of repair and maintenance costs on the selection of depreciation methods.

Determine the original cost of an asset given its residual value, useful life, and depreciation expense.

Calculate and understand composite depreciation rates and their application to asset groups.

Record and explain the accounting treatment for asset impairments under IFRS and GAAP.

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