35. J.Casey Company borrowed $13,000 on Nov 1. The interest accrued at 3% for 60 days is: C. $65 D. $180. A. $36. B. $42 , A.Augustin Company concluded that a that the account should be written off. What effect will this write-off have ustomer's $7,000 account 36. On October 31 of the current receivable was uncollectible on this company's net income and total assets assuming the allowance method is used to account for bad debts? A. Decrease in net inco decrease in total assets. 3. Decrease in net ino C. No effect on ne effect on total assets. e: income; no effect total assets D. Increase in net income: o effect on total assets 37. Extraordinary repairs A. Are revenue expenditures. B. Are credited to accumulated depreciation. C. Are additional costs of plants assets that D. Extend E. Are expensed as incurred. o not materially increase the asset's life asset's useful life beyond its original estimate. 38. Ordinary repairs: penditures necessary if an asset is to perform to expectations over its useful life. Are treated as expenses D. Include cleaning, lubricating, and normal adjusting. E All of these. keep an asset in normal operating condition. A. Are 39 Plant assets are: Tangible assets used in the operation of a business that have a useful life of more than one accounting A eriod. B. Current assets. C. Tangible assets used in the operation of business that have a useful life of less than one accounting. period. D. Intangible assets used in the operations of a business that have a useful life of more than one accounting period. 40. The relevant factor(s) in computing depreciation include A. Cost B. Salvage value C. Use epreciation method. All of these. life 41. Depreciation: A. Measures the decline in market value of an asset. B s applied to land C. Is the process of allocating an outflow of cash from the use of a plant asset. expense the cost of a plant asset. D. Version 2 4