Assume That an Asset Was Bought at a Cost of $50

question 28

Multiple Choice

Assume that an asset was bought at a cost of $50 000.It is expected that the asset will have a useful life of 10 years with the straight-line depreciation method being used.At the beginning of year 5 the total useful life is re-estimated downward to 8 years.Under AASB 116 the annual depreciation expense for the final years of useful life is:

• A) $7500
• B) $5000
• C) $4500
• D) $3000

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