Use the Information Below to Answer the Following Questions

question 41

Multiple Choice

Use the information below to answer the following questions:
Jacques Ltd purchased a computer for $4500 on 1 July 2009. It had an estimated useful life of 3 years. It was depreciated using the straight-line method. The financial year ends on 30 June.
-What was the net book value at 30 June 2011?

• A) nil
• B) $1500
• C) $3000
• D) $4500.

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Definitions:

Patent Agreement

A legal contract in which a patent owner allows another party to use, sell, or manufacture the patented invention for a specified period, usually in return for royalties.

Non-patented

Refers to inventions, designs, or processes that are not protected by a patent.

License

Official permission or permit to do, use, or own something, often issued by a governing authority.

Design Patent

A form of legal protection granted to the ornamental design of a functional item, providing an exclusive right to the design's use.