ACC 291 Final Exam
1. Question 207
On January 1, a machine with a useful life of five years and a residual value of $40,000 was
purchased for $120,000. What is depreciation expense for year 2 under double-declining-balance
method of depreciation?
2. IFRS Multiple Choice Question 01
As a recent graduate of State University you're aware that IFRS requires component depreciation
for plant assets. A friend has asked you to succinctly explain what component depreciation
means. Which of following correctly describes component depreciation?
3. Multiple Choice Question 198
Given following account balances at year end, compute total intangible assets on balance sheet
of Janssen Enterprises.
Research & Development Costs
4. Multiple Choice Question 146