Andrea Is Only 13 but She Works as a Lifeguard

question 179

True/False

Andrea is only 13 but she works as a lifeguard during the week and baby sits every weekend. Statistics Canada classifies Andrea as not part of the labour force.

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Definitions:

Equipment

Tangible property used in operations, such as machinery or computers, that has a useful life beyond a single reporting period.

Depreciation

The process of allocating the cost of a tangible asset over its useful life.

Straight-Line Basis

An accounting method of depreciation where the value of an asset is reduced evenly over its useful life.

Salvage Value

The projection of an asset's resale value after it ceases to be of use.