On January 1,a Machine with a Useful Life of Five

question 141

Multiple Choice

On January 1,a machine with a useful life of five years and a residual value of $4,500 is purchased for $22,500.What is the depreciation expense in year 3 under straight-line depreciation?

• A)$4,500
• B)$3,600
• C)$10,800
• D)$13,500

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Definitions:

Jean Piaget

A Swiss psychologist renowned for his pioneering work in child development, particularly his theory of cognitive development.

Theory

A coherent group of propositions formulated to explain a group of facts or phenomena in the natural world and repeatedly confirmed through experiment or observation.

Accommodation

In cognitive development, the process by which individuals adjust their schemas to incorporate new information.

Assimilation

The process by which an individual or group becomes part of another culture, adopting its values and practices.