4, Depreciation is usually recorded:

a, From the beginning of the accounting year in which an asset is purchased.

b, From the actual date of purchase.

c, From the first of the month nearest the actual purchase date.

d, From the end of the month nearest the actual purchase date.

e, By any of the above methods.

5, A machine originally had an estimated service life of 5 years, and after 3 years, it was decided that the original estimate should have been for 10 years. The remaining cost to be depreciated should be allocated over the next:

a, 2 years.

b, 5 years.

c, 7 years.

d, 8 years.

e, 10 years.

6, At the end of the year SportsWorld completed an asset impairment test and noted that a piece of equipment with a book value of 12,000, has a recoverable value of $2,000. Calculate the amount of impairment loss on the equipment.

a, $2,000

b, $10,000

c, $14,800

d, $12,800

e, $2,160