On September 1,a Machine with a Useful Life of 8

question 56

Multiple Choice

On September 1,a machine with a useful life of 8 years and a residual value of $3,000 was purchased for $47,000.What is depreciation expense in the year of purchase under straight-line depreciation assuming a December 31 year-end?

• A)$3,917
• B)$3,667
• C)$1,958
• D)$1,833

---

Definitions:

Consumer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Mental Processes

The internal, cognitive mechanisms by which individuals perceive, think, understand, decide, and remember information.

Social Processes

Patterns of social interactions and behaviors among individuals and groups, shaping societal norms and relationships.

New-Car Buying

The process of researching, locating, and purchasing a brand-new vehicle, typically involving comparison of models, test drives, and negotiation of terms.