Wong Purchased a Computer for $15 000, Net of GST

question 15

Multiple Choice

Wong purchased a computer for $15 000, net of GST. Originally it had an estimated useful life of 4 years and a residual value of $3000. The straight-line method is used. At the start of the third year of usage Wong revised the life of the computer to a total life of 6 years. The residual value had not changed. What depreciation expense should be recorded for the computer for year 3?

• A) $1500
• B) $1000
• C) $3000
• D) $4000

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Definitions:

Self-Fulfilling Prophecies

Expectations about a situation or individual that lead to behaviors which cause the expectations to come true.

Objective Features

Characteristics or properties of an object or situation that exist independently of personal feelings, opinions, or interpretations.

Social Marks

Social marks refer to characteristics or attributes that distinguish individuals or groups in a social context, often influencing their social status or identity.

Structural Strain Theory

A sociological theory that posits the disconnection between societal goals and the means available to achieve them creates social strain leading to deviant behavior.