Answer these questions based on Targets $2021($January $29,2022)$ Annual Report:

$1.$The historical cost of Target's property and equipment at the most recent balance sheet date was $$28,181($in millions$).$

True

False

$2.$The book value of Target's property and equipment at the most recent balance sheet date was $$28,181($in millions$).$

True

False

$3.$Property and equipment is Target's largest asset.

True

False

$4.$Total depreciation expense recognized by Target's on property and equipment since the assets were acquired was $\_\_\_\_\_\_\_\_\_$ at $1/29/22.$

A$.$$$2,344($in millions$)$

B$.$$$28,181($in millions$)$

C$.$$$21,137($in millions$)$

D$.$$$859($in millions$)$

$5.$Target recognized $\_\_\_\_\_\_\_\_\_\_$ depreciation and amortization expense in $2021$ than in $2020.$

A$.$the same amount

B$.$more

C$.$less

D$.$cannot be determined

$6.$Use the following formula to calculate the company's sales to Property and Equipment for the year ended $1/30/2021$ and the year ended $1/29/2022.$

Sales to Property and Equipment $=$ Total Revenue $/$ Property and Equipment, net. Round to two decimal places, for example, $10\mathrm{.}5876329=10\mathrm{.}59.$ Now answer the question below.

Did Target more effectively use property and equipment to generate revenue in the year ended $1/29/2022$ than in the year ended $1/30/2021?$

a$.$ Yes.

b$.$ No$.$

$7.$The amount of cash that Target paid for property and equipment $\_\_\_\_\_\_\_\_\_$ over the last two reporting periods.

a$.$ increased

b$.$ decreased

c$.$ stayed the same

d$.$ cannot be determined

$8.$Target uses $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$ depreciation method.

a$.$ units of activity

b$.$ double$-$declining balance

c$.$ accelerated

d$.$ straight$-$line

$9.$In the first year of Target's fixtures and equipment useful life:

a$.$ book value would be lower on the company's balance sheet with the depreciation method used by Target compared to the double$-$declining balance depreciation method.

b$.$ book value would be higher on the company's balance sheet with the depreciation method used by Target compared to the double$-$declining balance depreciation method.

c$.$ net income would be lower on the company's income statement with the depreciation method used by Target$-$compared to the double$-$declining balance depreciation method.

d$.$ net income would be the same amount on the company's income statement with the depreciation method used by Target compared to the double$-$declining balance depreciation method.

$10.$Target depreciates buildings and improvements over longer useful lives than computer hardware and software.

a$.$ True.

b$.$ False.

c$.$ Cannot be determined.