A Building Was Purchased for $230,000

question 83

Multiple Choice

A building was purchased for $230,000.It currently has accumulated depreciation of $40,000 and had a residual value of $50,000.Assuming the use of straight-line depreciation,its estimated useful life must have been

• A) 5 years.
• B) 10 years.
• C) 14 years.
• D) impossible to determine from the facts given.

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Definitions:

Red Blood Cell

Cells in the blood that carry oxygen from the lungs to the rest of the body and return carbon dioxide for expulsion.

Evaporation Process

The transformation of a liquid into vapor or gas, typically involving heat absorption.

Burned Areas

Damaged tissue caused by exposure to heat, chemicals, electricity, radiation, or sunlight.

Rate of Diffusion

Rate of Diffusion refers to how quickly molecules spread from areas of high concentration to areas of low concentration, influenced by temperature, pressure, and the medium.