Ch11QuizAnswers_Su10

Ch11QuizAnswers_Su10 - Remove Question A general...

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Name Quiz 11
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Add Question Here Multiple Choice 1 points Modify Remove Question The following is true of depreciation accounting. Answer Add Question Here Multiple Choice 1 points Modify Remove Question If an industrial firm uses the units-of-production method for computing depreciation on its only plant asset, factory machinery, the credit to accumulated depreciation from period to period during the life of the firm will Answer Add Question Here Multiple Choice 1 points Modify Remove Question Use of the double-declining-balance method Answer
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Add Question Here Multiple Choice 1 points Modify Remove Question Use of the sum-of-the-years'-digits method Answer Add Question Here Multiple Choice 1 points Modify Remove Question Depreciation is normally computed on the basis of the nearest Answer Add Question Here Multiple Choice 1 points Modify Remove
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Question A change in estimate should Answer Add Question Here Multiple Choice 1 points Modify
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Unformatted text preview: Remove Question A general description of the depreciation methods applicable to major classes of depreciable assets Answer Add Question Here Multiple Choice 1 points Modify Remove Question Under MACRS, which one of the following is not considered in determining depreciation for tax purposes? Answer Add Question Here Multiple Choice 1 points Modify Remove Question The asset turnover ratio is computed by dividing Answer Add Question Here Multiple Choice 1 points Modify Remove Question On July 1, 2004, Gonzalez Corporation purchased factory equipment for $450,000. Salvage value was estimated to be $12,000. The equipment will be depreciated over ten years using the double-declining-balance method. Counting the year of acquisition as one-half year, Gonzalez should record depreciation expense for 2005 on this equipment of Answer Add Question Here...
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Ch11QuizAnswers_Su10 - Remove Question A general...

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