Changing the Rate of Depreciation Does NOT Affect

question 39

Multiple Choice

Changing the rate of depreciation does NOT affect:

• A) the net book value of noncurrent assets.
• B) cash.
• C) net profit.
• D) retained profits.

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Definitions:

Frederick Douglass

An African-American social reformer, abolitionist, orator, writer, and statesman who escaped from slavery in Maryland.

Fourth of July

A federal holiday in the United States commemorating the Declaration of Independence of the United States, on July 4, 1776.

Three-Fifths Clause

A provision signed into the Constitution in 1787 that three-fifths of the slave population would be counted in determining each state’s representation in the House of Representatives and its electoral votes for president.