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Can someone please help me with this? Student I. Plant assets are: A. Tangible assets used in the operation of a business that have a

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Student I. Plant assets are: A. Tangible assets used in the operation of a business that have a useful life of more than one accounting period. B. Current assets. C. Held for sale. D. Intangible assets used in the operations of a business that have a useful life of more than one accounting period. E. Tangible assets used in the operation of business that have a useful life of less than one accounting period. 2. Depreciation: A. Measures the decline in market value of an asset. B. Measures physical deterioration of an asset. C. Is the process of allocating to expense the cost of a plant asset. D. Is an outflow of cash from the use of a plant asset E. Is applied to land. 3. The useful life of a plant asset is: A. The length of time it is used productively in a company's operations. B. Never related to its physical life. C. Its productive life, but not to exceed one year. D. Determined by the FASB. E. Determined by law. 4. A machine originally had an estimated useful life of 5 years, but after 3 complete years it was decided that the original estimate of useful life should have been 10 years. At that point the remaining cost to be depreciated should be allocated over the remaining: A. 2 years B, 5 years . 7 years D. 8 years E. 10 years 5. When originally purchased, a vehicle had an estimated useful life of eight years. The vehicle cost $23,000 and its estimated salvage value is $1,500. After four vears of straioht-line denreciation tha esumatea userul lite was revised from eight years to six years and there was no change in the estimated salva value. The depreciation expense in year 5 equals: A. $5,375.00 B. $2,687.50 C. $5,543.75 D. $10,750.00 E. S2,856.25

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