Deacon Company Purchased Equipment Last Year for $30,000

question 209

Multiple Choice

Deacon Company purchased equipment last year for $30,000.The equipment has an estimated useful life of five years.What amount will appear on the income statement for depreciation expense for the month of March 2016?​

• A) $0
• B) $500
• C) $6,000
• D) $30,000

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Definitions:

Abuse of Process

Abuse of process refers to the misuse of legal procedures for malicious purposes or to harm another, rather than to achieve a legitimate legal outcome.

Public Figure Privilege

A special right, immunity, or permission that allows people to make any statement about public figures, typically politicians and entertainers, without being held liable for defamation as long as false statements were not made with malice.

Defamation

The act of making false statements that harm another person's reputation.

Actual Malice

In defamation, either a person’s knowledge that his or her statement or published material is false or the person’s reckless disregard for whether it was false.