If Abishag Owned 10 Quinces and 10 Kumquats and If

question 25

Multiple Choice

if Abishag owned 10 quinces and 10 kumquats and if the price of kumquats is 2 times the price of quinces, how many kumquats could she afford if she spent all of her money on kumquats?

• A)10
• B)15
• C)20
• D)30
• E)12

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Definitions:

Accelerated Depreciation

A method of depreciation in which an asset loses book value at a faster rate than the traditional straight-line method over its useful life.

Useful Life

The expected time period over which an asset is useful to the owner.

Double-declining-balance

An accelerated method of depreciation which double the rate of normal depreciation, reducing the value of assets more quickly.

Depreciation Expense

The yearly allocation of the cost of an asset over its useful life, reflecting the asset's usage and wear and tear over time.