Which of the Following Is NOT Considered to Be Agricultural

question 12

Multiple Choice

Which of the following is NOT considered to be agricultural produce?

• A) timber
• B) sugar
• C) wool
• D) milk

---

Definitions:

Useful Life

The estimated time period that an asset is expected to be used by a business or be productive.

Straight-Line Rate

A method of calculating the depreciation of an asset, which allocates an equal depreciation expense each year over the asset's useful life.

Double Declining-Balance

A method of accelerated depreciation that doubles the straight-line depreciation rate, allowing for faster asset expense recognition.

Modified Accelerated Cost Recovery

A tax depreciation system in the U.S. that allows for the accelerated depreciation of property under certain conditions.