Question

20. Which of the following plant assets does not decline in service potential over the course of its useful life? a. Land Imp
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Answer #1

20) (C) Land

Explanation:

( Land does not depreciate over a period of time and continues to provide a service. Where as Building, Land Improvement and equipment depreciate over its life time hence option (c) is thn only correct answer.)

21) (D) $ 59870

Explanation:

Truck Cost $54,300
Sales Tax $3700
Logo $1600
Safety testing $270
Total Cost $59870

Cost will includ all items which are necessary to place the truck in service.

Licence is not necessary to place the truck in service, hence it is not included.

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