Chapter+9+2010+Fall+QuizV2-1

Chapter+9+2010+Fall+QuizV2-1 - Chapter 9 Fall 2010 Quiz...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 9 Fall 2010 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? a. Truck license. b. Freight charges. c. Cost of lettering on side of truck. d. Sales tax. 2.Which of the following assets does not decline in service potential over the course of its useful life? a. Furnishings. b. Land. c. Fixtures d. Equipment. 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? a. $1,000. b. $2,600. c. $3,600. d. $0. 4. The balance in the Accumulated Depreciation account represents the a. amount to be deducted from the cost of the plant asset to arrive at its fair market value. b. amount charged to expense in the current period. c.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/05/2011 for the course ACCT 207 taught by Professor Hudchinson during the Fall '08 term at University of Delaware.

Page1 / 2

Chapter+9+2010+Fall+QuizV2-1 - Chapter 9 Fall 2010 Quiz...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online