If a Fixed Asset,such as a Computer,were Purchased on January

question 96

Multiple Choice

If a fixed asset,such as a computer,were purchased on January 1 for $3,750 with an estimated life of three years and a salvage or residual value of $150,the journal entry for monthly expense under straight-line depreciation is

• A)Depreciation Expense 100Accumulated Depreciation 100
• B)Depreciation Expense 1,200Accumulated Depreciation 1,200
• C)Accumulated Depreciation 1,200Depreciation Expense 1,200
• D)Accumulated Depreciation 100Depreciation Expense 100

---

Definitions:

Prediscussion Polling

The practice of gauging opinions or attitudes of individuals before a discussion or meeting takes place.

Common Information Effect

The tendency for group members to focus on information that all members share, often at the expense of unique information held by individual members.

Discussion

A process in which individuals exchange ideas, opinions, or information through spoken or written communication.

Hidden Profile

A situation in group decision-making where the optimal solution is only apparent when non-shared information from all members is compiled.