An Asset Cost $33,000

question 15

Multiple Choice

An asset cost $33,000.It has an expected useful life of 5 years and an expected salvage value of $3,000.Depreciation expense for the first year of the asset's life using the straight-line method is

• A) $6,000.
• B) $6,600.
• C) $10,000.
• D) $13,200.

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Definitions:

Epipelagic

Relating to the upper layer of the ocean, from the surface to about 200 meters deep, where there is enough sunlight for photosynthesis.

Thermal Stratification

The layering of water in a lake or ocean, based on temperature variations with depth, which can affect aquatic life and water quality.

Spring Turnovers

Spring turnovers are the annual mixing of water in lakes and ponds, resulting from temperature changes that cause layers of water to mix, refreshing nutrients and oxygen levels.

Fall Turnovers

The annual mixing of lake waters driven by temperature changes, encouraging nutrient redistribution and oxygen circulation.