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Problem #1 of 25 All of the following are factors used in determining depreciation expense with the straight-line method except O a. the assets estimated residual value O b. the assets initial cost. O c. the assets expected useful life. O d. None of these choices are correct. 10 ss quiz t You must finish your in-

Problem #2 of 25 In regard to discarding fixed assets, which of the following is not true? a. Full depreciation should be recorded and no loss recognized with an asset that is discarded rather than sold. O b. If a fixed asset is no longer used and has no residual value, it should be written off O c. If a fixed asset is no longer used and has no residual value, it is discarded. Od. Recorded depreciation should be brought up to date before removing the asset from the accounting records. 10

PRE-TEST Problem #3 of 25 The best definition of a copyright is a. a name, term, or symbol used to identify a business or its product. O b. an asset created from favorable factors such as location, product quality, reputation, and managerial skills. O c. the exclusive right to produce and sell goods with one or more unique features. o d. the exclusive right to publish and sell literary, artistic, or musical compositions. 10 it vo

Problem #4 of 25 Which of the following fixed assets is not depreciated? a. Land O b. Equipment O c. Building O d. None of these choices are correct. 10 You must fintish your in-progress quiz ta

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Answer #1

1. OPTION : D (Non of these choices are correct)

While calculation depreciation expense residual value cost and life all are required .. Depreciation expence = (cost - residual value)/life.

2. OPTION : A (Full depreciation should be recorded and no loss recognized with an asset that is discarded rather than sold.)

A loss can be recognized when discarding a fixed asset.

3. OPTION : D

4. OPTION : A ( LAND)

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