ACCT 305 WEEK 3 QUIZ NEW
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ACCT 305 WEEK 3 QUIZ NEW
1. Question : (TCO 4) In the first year of an asset’s life, which of the following methods has the largest depreciation?
• Straight-line.
• Double-Declining balance.
• Sum-of-the-years’ digits.
• Composite or group.
2. Question : (TCO 4) Amortization refers to the cost allocation for:
• A patent.
• A building.
• Land.
• A silver mine.
3. Question : (TCO 4) The depreciable base for an asset is:
• Its service life.
• The excess of its cost over residual value.
• The difference between its replacement value and cost.
• The amount allowable under MACRS.
4. Question : (TCO 4) Cutter Enterprises purchased equipment for $72,000 on January 1, 2011. The equipment is expected to have a five-year life and a residual value of $6,000.
Using the straight-line method, depreciation for 2011 would be:
• $13,200.
• $14,400.
• $72,000.
• None of the above is correct.
ACCT 305 WEEK 3 QUIZ NEW
To view more, visit following link
http://unquite.com/question-details/ACCT-305-WEEK-3-QUIZ-NEW/2975
or email us
query@unquite.com
ACCT 305 WEEK 3 QUIZ NEW
1. Question : (TCO 4) In the first year of an asset’s life, which of the following methods has the largest depreciation?
• Straight-line.
• Double-Declining balance.
• Sum-of-the-years’ digits.
• Composite or group.
2. Question : (TCO 4) Amortization refers to the cost allocation for:
• A patent.
• A building.
• Land.
• A silver mine.
3. Question : (TCO 4) The depreciable base for an asset is:
• Its service life.
• The excess of its cost over residual value.
• The difference between its replacement value and cost.
• The amount allowable under MACRS.
4. Question : (TCO 4) Cutter Enterprises purchased equipment for...