An Asset Has a Life of 3 Years

question 78

Multiple Choice

An asset has a life of 3 years.It cost $90,000 and has an expected salvage value of $15,000.Using double-declining-balance depreciation,what is the depreciation for Year 1?

• A) $29,700
• B) $60,000
• C) $15,000
• D) $50,000

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Definitions:

Carbon Isotopic Signatures

Differences in the ratio of carbon isotopes (carbon-12 to carbon-13) found in organic materials and carbonates, used as a tool for studying past environmental conditions and biological processes.

Diets

Pertains to the habitual nourishment or eating patterns of an individual or group, often tailored to specific health or nutritional goals.

Extinct Organisms

Species that no longer exist, having disappeared from their natural habitats and are no longer part of Earth's biodiversity.

Fossil Record

The history of life on Earth as represented by fossils, the preserved remains or traces of organisms.