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

question 8

Multiple Choice

The 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 first year using the double-declining-balance method of depreciation.

• A)$450,000
• B)$500,000
• C)$250,000
• D)$225,000

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Definitions:

Leaks

Unintended escape of fluids (gas or liquid) from a container or system to the environment.

Incineration

The process of burning waste materials to reduce their volume and sometimes to generate energy.

Hazardous Wastes

Wastes that are dangerous or potentially harmful to public health or the environment due to their toxic, corrosive, ignitable, or reactive properties.

Water Pollution

The contamination of water bodies, such as lakes, rivers, oceans, and groundwater, caused by pollutants.