A Machine Is Purchased for $130 000

question 49

Multiple Choice

A machine is purchased for $130 000.It is estimated that it has a useful life of 8 years and will then be sold for $10 000.Using the straight-line method the balance in the accumulated depreciation account at the end of the third year of the machine's useful life is:

• A)$120 000
• B)$45 000
• C)$48 750
• D)$15 000

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Definitions:

Social Representations

Collectively elaborated explanations of unfamiliar and complex phenomena that transform them into a familiar and simple form.

Cognitive Structures

The mental frameworks and patterns of thought that individuals use to organize and interpret information.

Vociferous Minority

A small, often loud group within a larger population that strongly expresses its opinions or beliefs.

Timber Resources

Natural wood materials available for harvesting and use in construction, paper production, and other purposes.