On 1 January 2015,a New Motor Vehicle with a Useful

question 27

Multiple Choice

On 1 January 2015,a new motor vehicle with a useful life of four years and an estimated trade-in value of $12 000 was purchased by a business for $54 000.The straight-line method is employed and the financial year ends on 31 December.
- What was the accumulated depreciation at 31 December 2017?

• A) $21 000
• B) $31 500
• C) $42 000
• D) $52 500

Understand the distinction and application between job order cost and process cost accounting systems.

Comprehend how costs flow through accounts in manufacturing settings, including the movement from Work in Process to Finished Goods.

Recognize the methods for measuring, recording, and reporting product costs.

Identify the documents used in job order costing systems for recording direct labor and material costs.

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Definitions:

Behavioral Approaches

A theory in psychology focusing on observable behaviors and the ways in which the environment determines behavior.

Dehumanizing

The process of depriving a person or group of positive human qualities, often leading to the perception of those individuals as less than human.

Humanistic Psychologists

Psychologists who focus on individual potential and stress the importance of growth and self-actualization.

Behavioral Theories

Theories suggesting that behavior is learned through interactions with the environment, emphasizing the role of conditioning.