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Test Bank for Fundamental Accounting Principles Volume 2 17th Canadian Edition by Larson $39.99   Add to cart

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Test Bank for Fundamental Accounting Principles Volume 2 17th Canadian Edition by Larson

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Test Bank for Fundamental Accounting Principles Vol 2 Volume 2 17th Canadian Edition 17ce by Kermit D. Larson, Heidi Dieckmann, John Harris. ISBN-13: 1332 Full chapters test bank PDF VOLUME 2 CHAPTER 9 Property, Plant, and Equipment and Intangibles CHAPTER 10 Current Liabilities CHAP...

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  • July 21, 2022
  • 34
  • 2021/2022
  • Exam (elaborations)
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Student name:__________
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1) A machine originally had an estimated useful life of 5 years, but after 2 complete years, it
was decided that the original estimate of useful life should have been 10 years. At that point the
remaining cost to be depreciated should be allocated over the remaining:



A) 3 years.
B) 5 years.
C) 10 years.
D) 8 years.
E) 7 years.




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2) When originally purchased, a vehicle costing $25,020 had an estimated useful life of 8
years and an estimated salvage value of $2,700. After 4 years of straight-line depreciation, the
asset's total estimated useful life was revised from 8 years to 6 years and there was no change in
the estimated salvage value. The depreciation expense in year 5 equals:



A) $5,580.00.
B) $2,958.00.
C) $11,160.00.
D) $5,748.00.
E) $2,790.00.




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