A Machine Was Purchased for $68,000

question 65

Multiple Choice

A machine was purchased for $68,000.It has a useful life of 5 years and a residual value of $8,000.Determine the annual depreciation expense using the straight-line method?

• A) $20,000
• B) $12,000
• C) $60,000
• D) $16,000

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Definitions:

Lie Detector

A device or technique used to attempt to determine whether a person is telling the truth by measuring physiological responses.

Polygraph

An instrument that measures and records several physiological indicators such as blood pressure, pulse, respiration, and skin conductivity while a subject is asked questions, purported to indicate lying or truthfulness.

Job Applicants

Individuals who apply for a position of employment, offering their skills and qualifications for consideration by an employer.

Sweepstakes

A type of contest or promotion where prizes are awarded to participants selected by random drawing.