Base-Forward Owns a Machine That It Purchased on Jan 1,2016

question 110

Multiple Choice

Base-Forward owns a machine that it purchased on Jan 1,2016 for $600,000.The machine had an estimated useful life of 5 years and an estimated residual value of $100,000.The company uses the declining balance method with a rate of 20%.The machine was sold on December 31,2018 for $140,000.What was the depreciation expense for 2018?

• A)$292,800
• B)$76,800
• C)$60,000
• D)$50,000

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Definitions:

Victor Of Aveyron

A feral child found in France in the late 18th century, whose case was an early study in the development and acquisition of language.

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Techniques or methods employed by individuals to enhance learning, memory, and problem-solving.

Conservation

A cognitive principle, identified by Jean Piaget, recognizing that certain properties of objects (such as volume, mass, number) remain the same despite changes in the form or arrangement of the objects.

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A cognitive perspective characterized by the inability to differentiate between one's own perspective and that of others, often associated with early developmental stages.