If an Asset Costs $35,000,has a Residual Value of $3,000,and

question 48

Multiple Choice

If an asset costs $35,000,has a residual value of $3,000,and has a useful life of five years,the entry to record depreciation in the second year,using the double-declining-balance method,is:

• A) Depreciation Expense - Asset 8,050
• Cash 8,050
• B) Depreciation Expense - Asset 8,400
• Accumulated Depreciation - Asset 8,400
• C) Depreciation Expense - Asset 8,750
• Accumulated Depreciation - Asset 8,750
• D) Accumulated Depreciation - Asset 9,100
• Depreciation Expense - Asset 9,100

Understand the difference between various types of reports and their purposes.

Recognize the importance of ethical considerations including intellectual property rights and plagiarism in research.

Identify various research tools and their appropriate applications.

Grasp the concept of primary and secondary research methodologies.

---

Definitions:

Intrastate Trucking Company

A company that operates trucks only within the boundaries of a single state, not crossing any state lines.

Lost In A Fire

Describes items, possessions, or assets that have been destroyed or severely damaged due to a fire incident.

Voidable Title

A situation in which the transfer of title to property can be invalidated due to certain circumstances like fraud or misrepresentation.

Obtained By Fraud

Acquisition of property, assets, or benefits through deceptive practices, misrepresentation, or other dishonest means.