A Machine Had an Estimated Useful Life of 5 Years,but

question 257

Multiple Choice

A machine had an estimated useful life of 5 years,but after 3 years,it was decided that the original estimate of useful life should have been 10 years.At that point,the remaining cost to be depreciated should be allocated over the remaining:

• A)2 years.
• B)5 years.
• C)7 years.
• D)10 years.

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Definitions:

Representational Ability

The cognitive skill to understand and manipulate symbols and abstract concepts, pivotal in language development and creative thinking.

Representational Ability

The capacity of individuals to use symbols or objects to stand for something else, critical in language development and creative thinking.

Object Permanence

The understanding that objects continue to exist even when they cannot be observed, a concept developed in early childhood according to Jean Piaget.

Visual Recognition

The ability to identify and categorize objects, places, and people by sight.