28) What two accounts are used to calculate the net book value? a. Cash and Equipment b. Equipment and Accumulated Deprecation c. Equipment and Accounts Payable d. Equipment and Retained Earnings 29) Which of the following is a long lived asset? a. Equipment b. Inventory c. Accounts Receivable d. Cash 30) Which of the following would be capitalized into the cost of a long lived asset? a. Year 2 Routine Maintenance Costs b. Year 1 Insurance Premiums c. Maintenance Labor Costs d. Installation Costs 31) What is the double declining balance depreciation expense in year 1 for the following asset? Cost: Useful Life: Salvage Value: $75,000 7 Years $5,000 a. $15,000 b. $20,000 C. $10,000 d. $5,000 32) Which of the following is a tangible asset? a. Vehicles b. Accumulated Deprecation c.Goodwill d. All of the above 33) Depreciation expense reflects a. The decrease in market value for long lived assets b. The cash paid for maintenance in a given year c. The usage of a long lived asset over its life d. All of the above 34) Which of the following is a deprecation method? a. Double Declining Balance b. Straight Line c. Both A and B d. Neither A or B