11. How is depreciation calculated?

1. C-S/L
2. (C-L)/ S
3. C/S
4. C-S

12. How do you determine the book value of an asset?

1. C- Dep Expense
2. C-S
3. C- Accumulated depreciation
4. C

13. Which of the following is a contra-asset?

1. Dividends
2. Unearned revenue
3. Accumulated depreciation
4. Merchandise Inventory