The Method of Depreciation Was Changed from the Double-Declining-Balance Method

question 89

Multiple Choice

The method of depreciation was changed from the double-declining-balance method to the straight-line method in fiscal 2013. A machine was purchased on January 1, 2011, at a cost of $150,000. The machine has an estimated useful life of 10 years and a residual value of $9,000. Assume that net income before tax (NIBT) was $80,000 for fiscal 2011. What is the appropriate accounting for fiscal 2011?

• A)Retrospective adjustment and revised NIBT of $110,000.
• B)Retrospective adjustment and revised NIBT of $95,900.
• C)Retrospective adjustment and revised NIBT of $65,900.
• D)No accounting is necessary in fiscal 2011.

Understand how neuroplasticity underpins learning and adaptation in response to trauma or environmental change.

Explain the principle of lateralization and the distinct functions attributed to the right and left hemispheres of the brain.

Discuss the impact of the endocrine system on behavior and how various glands contribute to bodily and neural functions.

Apply knowledge of the nervous system to explain human behaviors and disorders related to brain function.

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Definitions:

Obsolete

Refers to something that is out-of-date or no longer in use, typically because it has been superseded by newer, more efficient alternatives.

Misrepresented Solvency

The incorrect presentation or falsification of a company's financial stability or ability to meet its debts.

10-day limitation

A time constraint within which certain actions must be taken or rights may be lost.

Incidental Damages

Minor costs or expenses that arise indirectly from a breach of contract.