Biglersville Corp

question 11

Multiple Choice

Biglersville Corp.purchased equipment at the beginning of 2017 for $16,000.Biglersville Corp.decided to depreciate the equipment over a five-year period using the straight-line method.Biglersville Corp.estimated the equipment's residual value at $1,000.The estimated fair market value at the end of 2017 was $15,000.Which of the following statements is correct concerning Biglersville Corp.'s financial statements at December 31,2017?

• A)The book value of the equipment is $30,000.
• B)The book value of the equipment is $13,000.
• C)The total accumulated depreciation is $1,000.
• D)The equipment will be reported on the balance sheet at it fair market value of $15,000.

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Definitions:

Policy Activists

Individuals or groups advocating for changes in public policy to advance particular goals or interests.

Non-Interventionists

Individuals or policies favoring minimal diplomatic and military involvement by a country in the affairs of other nations.

Monetarists

Economists who emphasize the role of governments in controlling the amount of money in circulation to regulate the economy and control inflation.

Classical Economic Theory

A school of thought in economics that emphasizes free markets, the importance of limited government intervention, and the role of supply and demand in an economy.