Cost of an Asset Is $1,000,000 and Its Residual Value

question 37

Multiple Choice

Cost of an asset is $1,000,000 and its residual value is $100,000. Estimated useful life of the asset is four years. Calculate depreciation for the second year using the double-declining-balance method of depreciation.

• A)$250,000
• B)$225,000
• C)$450,000
• D)$240,000

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Definitions:

Dynaset

A dynamic set of data that is the result of a query in database software, which can be updated and is reflective of any changes made to the database.

Recordset Type

Defines the kind of data collection in a database application, specifying how the records can be accessed and manipulated.

Lookup Field

A field in a database that allows users to select a value from a list, facilitating data entry and ensuring data integrity.

Table Design

The phase in database management where the structure of a table including fields, types, and relations is defined and implemented.