Biglersville Corp

question 154

Multiple Choice

Biglersville Corp.purchased equipment at the beginning of 2016 for $16,000.Biglersville Corp.decided to depreciate the equipment over a 5-year period using the straight-line method.Biglersville Corp.estimated the equipment's residual value at $1,000.The estimated fair market value at the end of 2016 was $15,000.Which of the following statements is correct concerning Biglersville Corp.'s financial statements at December 31, 2016?

• A) The book value of the equipment is $30,000.
• B) The book value of the equipment is $13,000.
• C) The total accumulated depreciation is $1,000.
• D) The equipment will be reported on the balance sheet at it fair market value of $15,000.

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Definitions:

Politeness Theory

Theory that people have positive perceptions of others who treat them politely and respectfully.

Face-Threatening

Actions or behaviors that challenge the social image someone wants to project, potentially causing embarrassment or damage to reputation.

Dress Code

A set of guidelines or rules specifying the expected manner of dress within a particular context, such as a workplace, school, or social event.

Casual Today

The inclination towards adopting more informal and relaxed standards or approaches, particularly in contexts such as dress, communication, or workplace culture.