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Devry ACCT 305 Week 3 Quiz Latest

Just Click on Below Link To Download This Course:<br>https://www.devrycourses.com/product/devry-acct-305-week-3-quiz-latest/<br>Devry ACCT 305 Week 3 Quiz Latest<br> <br>Question 1. 1. (TCO 4) Which depreciation method multiplies a constant base by a declining fraction? (Points : 4)<br>Straight-line<br>Double declining balance<br>Sum-of-the-yearsu2019 digits<br>Composite or group<br>Question 2. 2. (TCO 4) Amortization refers to the cost allocation for (Points : 4)<br>

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Devry ACCT 305 Week 3 Quiz Latest

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  1. Devry ACCT 305 Week 3 Quiz Latest Just Click on Below Link To Download This Course: https://www.devrycourses.com/product/devry-acct-305-week-3-quiz-latest/ Or Email us help@devrycourses.com Devry ACCT 305 Week 3 Quiz Latest Question 1. 1. (TCO 4) Which depreciation method multiplies a constant base by a declining fraction? (Points : 4) Straight-line Double declining balance Sum-of-the-years’ digits Composite or group Question 2. 2. (TCO 4) Amortization refers to the cost allocation for (Points : 4) a patent. a building. land. a silver mine. Question 3. 3. (TCO 4) The factors that need to be determined to compute depreciation are an asset’s (Points : 4) cost, residual value, and physical life. cost, replacement value, and service life. fair value, residual value, and economic life. cost, residual value, and service life.

  2. Question 4. 4. (TCO 4) Cutter Enterprises purchased equipment for $72,000 on January 1, 2011. The equipment is expected to have a 5-year life and a residual value of $6,000. Using the straight-line method, the book value at December 31, 2011 would be (Points : 4) $57,600. $51,600. $58,800. $52,800. Question 5. 5. (TCO 4) Accounting for a change in the estimated service life of equipment (Points : 4) is handled prospectively. requires retroactive restatement of the prior year’s financial statements. requires a prior period adjustment. is a cumulative adjustment to income in the current year for the difference in depreciation under the new versus old estimates. Download File Now

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