Stanley Company Purchased a Machine That Was Installed and Placed

question 53

Multiple Choice

Stanley Company purchased a machine that was installed and placed in service on January 2,2013,at a total cost of $680,000.Residual value was estimated at $70,000.The machine is being depreciated over ten years by the double-declining-balance method.For the year 2014,Stanley should record depreciation expense of

• A) $108,800
• B) $97,600
• C) $68,000
• D) $61,000

Recognize the role of the superclass Object in the Java class hierarchy and understand the purpose of the toString method.

Understand the concept of type checking and casting objects in Java.

Identify and differentiate between is-a and has-a relationships in object-oriented design.

Understand the use and significance of the super and this keywords in accessing constructors and methods of a class and its superclass.

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Definitions:

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by widespread unemployment, poverty, and deflation.

Laffer Curve

A curve illustrating the relationship between the tax rate and tax revenues. Tax revenues will be low at both very high and very low tax rates. When tax rates are quite high, lowering them can increase tax revenue.

Tax Revenues

The income that is gained by governments through taxation.

Marginal Tax Rates

The rate of tax that applies to the next dollar of taxable income above a pre-determined threshold.