Fireworks City Information for 2012 and 2011 Is Presented Below

question 22

Multiple Choice

Fireworks City Information for 2012 and 2011 is presented below for this company which uses the straight-line depreciation method.
$\begin{array}{l}\begin{array}{lll}\\\text { Property, plant and equipment }\\\text { Accumulated depreciation }\\\text {Depreciation expense }\\\text {Net sales }\\\text { Total assets }\\\end{array}\begin{array}{lll} \underline{ 2012 }& \underline{ 2011 } \\ { \$750,000 } & { \$ 190,000 } \\100,000 & 85,000 \\ 62,500 & 47,500 \\ 1,000,000 & 900,000 \\ 625,000 & 475,000\end{array}\end{array}$
-Refer to Fireworks City.Using the data for 2012,determine the average life of the company's property,plant,and equipment rounded to one decimal place.

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Definitions:

Resilience

The capacity to recover quickly from difficulties; toughness.

Defense Mechanisms

Psychological strategies used unconsciously by individuals to protect themselves from unpleasant thoughts or feelings.

Coping

Utilizing conscious effort to solve personal and interpersonal problems in order to manage and minimize stress and conflict.

Denial

A psychological defense mechanism wherein a person refuses to accept the reality of a fact or situation, often as a method of coping with distress.