1) Which accounting principle directs the depreciation process? A.going concern B.full disclosure C.matching D.historical cost

2)Lauter Tun Corporation acquired equipment on January 1, 2012, for $300,000. The equipment had an estimated useful life of 10 years and an estimated salvage value of $25,000. On January 1, 2015, Lauter Tun Corporation revised the total useful life of the equipment to 8 years and the estimated salvage value to be $10,000. Compute depreciation expense for the year ending December 31, 2015, if Lauter Tun Corporation uses straightminusline depreciation. A.$41,500 B.$25,938 C.$43,500 D.$38,500 3)A major expenditure made to equipment that extends its useful life beyond the original estimate is journalized by: A.debiting Repair Expense B.debiting Depreciation Expense C.crediting Depreciation Expense D.debiting Equipment 4)The doubledecliningbalance method of depreciation causes: A.the same amount of depreciation in early years of an asset's use as compared to other depreciation methods B.more depreciation in early years of an asset's use as compared to other depreciation method. C.less depreciation in early years of an asset's use as compared to other depreciation methods D.is not an acceptable depreciation method according to GAAP