ACCTSol96.pdf - 103 Award 1.00 point The Buddy Burger...

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103. Award: 1.00 point 104. Award: 1.00 point 105. Award: 1.00 point The Buddy Burger Corporation has $3.5 million in long-lived assets and has an accumulated amortization account of $1.1 million. Which of the following statements is true? The book value of long-lived assets is $2.4 million The market value of long-lived assets is $3.5 million The carrying value of long-lived assets is $3.5 million The resale value of long-lived assets is $2.4 million None of the above Which of the following statements is true when the straight-line method is used to compute amortization ? The carrying value of an asset is a constant amount during the asset's useful life. Accumulated amortization is a constant amount during the asset's estimated useful life. Amortization expense per period is the amortizable cost divided by the number of periods in the asset's useful life. Expense recognizes declines as the asset wears out None of the above Which of the following is not an amount that is needed to calculate straight-line amortization?
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