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Chapter+9+2010+Fall+Quiz - Chapter 9 2010 Fall Quiz...

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Chapter 9 2010 Fall Quiz Name_________________________________Section___________________ 1. Which one of the following items is not considered a part of the cost of a truck purchased for business use? 2.Which of the following assets does not decline in service potential over the course of its useful life? 3. Aber Company buys land for $100,000 on 12/31/09. As of 3/31/10, the land has appreciated in value to $101,000. On 12/31/10, the land has an appraised value of $103,600. By what amount should the Land account be increased in 2010? 4. The balance in the Accumulated Depreciation account represents the 5. Recording depreciation each period is necessary in accordance with the
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