Use the Information Below to Answer the Following Questions

question 52

Multiple Choice

Use the information below to answer the following questions:
Creep Ltd purchased a machine for $100 000 on 1 January 2010. It has an estimated useful life of 5 years. Creep Ltd’s financial period ends on 31 December. The machine was depreciated using the reducing balance method at 60%.
-What was the depreciation expense for year ended 31 December 2011?

• A) $60 000
• B) $24 000
• C) $9600
• D) $40 000.

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Definitions:

Stone Tool Tradition

The practice of making and using tools made from stone by human societies, particularly during the Paleolithic period.

First Primates

The earliest known members of the primate order, which includes humans, monkeys, and apes, characterized by traits such as grasping hands and stereoscopic vision.

Meat Consumption

The practice of eating meat, which includes various types of animal flesh and organs, as a part of a diet.

Geographical Areas

Specific regions or locations on Earth, defined by natural or artificial boundaries and characterized by distinct environmental and cultural attributes.