All amounts paid to acquire an asset and to get it ready for its intended use are referred to as: Select one: A. the cost of an asset. B. equity expenditures. C. salvage expenditures. D. revenue expenditures. A company purchased furniture on January 1. Its cost was $24,000, and it had a residual value of $3000. Its useful life is determined to be 4 years. Using double-declining balance depreciation, the depreciation for year 1 to the nearest dollar will be: Select one: A. $12,000 B. $10,500. C. $6000. D. $5250. A company's accountant capitalizes a payment that should be recorded as an expense. Which of the following is true? Select one: A. Liabilities are overstated. B. Revenue is overstated. C. Assets are overstated. D. Expenses are overstated. Multiplying the asset's book value by a constant percentage is the computation of amortization under: Select one: A. either double-declining-balance method or straight-line method. B. the units-of-production method. C. the double-declining-balance method. D. the straight-line method