A business purchased a machine on the 1st January 2018 at a cost of 100,000. At the time of acquisition, the useful economic life was estimated to be 5 years. It is anticipated that in 5 years' time it might be worth 40,000 although the current selling price of an equivalent machine of 5 years old is 20,000. What is the depreciation charge for the period ending 31 December year 2020? a) 16,000 b) 12,000 c) 8,000 d) 4,000 Creamy Mist Ltd is planning to carry a major reorganization of its operations. The reorganization of operations would lead company to incur significant redundancy costs. At what point should Creamy Mist recognize a provision for the expected redundancy costs? The expected timetable is as follows: 18 September 2019-> The reorganization plan is first discussed in a board meeting 10 October 2019-> Board approves the plan for the reorganization 30 October 2019-> Board's decision is communicated to employees and-published in newspapers 10 November 2019-> The labour union agrees to the redundancy plan 30 November 2019-> Reorganization is completed O 10 November 2019 O 18 September 2019 O 10 October 2019 O 30 October 2019 O 30 November 2019