A Building Was Purchased for $250,000

question 41

Multiple Choice

A building was purchased for $250,000.It has accumulated depreciation of $40,000 and an expected residual value of $50,000.Assuming the use of straight-line depreciation,its estimated useful life must be

• A)15 years.
• B)10 years.
• C)5 years.
• D)impossible to determine from the facts given.

---

Definitions:

Lower-Status Family

A family that is considered to have less social, economic, or educational status compared to other families in a society.

College Degrees

Certifications awarded by colleges or universities upon completion of a course of study, representing different levels of academic achievement.

Business Environmental Psychology

A subfield of psychology focused on how physical environments affect human behavior and well-being in business settings.

Liberal Arts Field

An area of study focused on subjects aimed at providing general knowledge and intellectual skills rather than specialized professional or technical skills.