[The Following Information Applies to the Questions Displayed Below

question 97

Multiple Choice

[The following information applies to the questions displayed below.]

On January 1, Year 1, Vanguard Company purchased a copyright for $12,000. Vanguard estimated the remaining useful life of the copyright to be 6 years.

-Which of the following correctly shows the effect of the first year's amortization of Vanguard's copyright?

• A)Option A
• B)Option B
• C)Option C
• D)Option D

Understand the role and ordering of various types of accounts in the general ledger.

Grasp the purpose and process of posting transactions from the journal to the ledger.

Learn the guidelines for choosing account names for the chart of accounts.

Recognize the classification of accounts such as assets, liabilities, revenues, and expenses.

---

Definitions:

Powertrain Components

Parts of a vehicle's system that produce power and deliver it to the road surface, including the engine, transmission, driveshafts, differentials, and final drive.

Drivetrain Components

The collective parts of a vehicle's drivetrain system, including the engine, transmission, driveshafts, differentials, and axles, responsible for propelling the vehicle.

In-Phase

Usually used to mean properly timed or properly balanced. A driveshaft that is in-phase would be assembled balanced and with the yokes aligned.

Drive Axles

The axles connected to the vehicle's drivetrain that are responsible for transmitting power from the transmission to the wheels, enabling movement.