11. ____ The book value of an asset is equal to the cost minusa. the accumulated depreciation b. the salvage value c. the straight line rate d. the DDB rate

12. ____ Johnson purchases a piece of equipment with an estimated useful life of 4 years. The DDB rate for this asset would bea. 8% b. .125 c. .25 d. .50

13. ____ On which financial statement would a gain or loss be reported? A. Balance Sheet b. Income Statement c. Owners Equity Statement d. None of these

14. ____ Name two accelerated depreciation methods: a. SL and DDB b. SL and Units of Activity c. DDB and MACRS d. SL and MACRS

15. ____ Goodwill is an intangible asset that arises when: a. a company sells a really popular product b. the company wins the Presidents Award c. Mr. ONeill brings a box of Krispy Kremes to class d. one company purchases another company, paying more for it that the value of its net assets