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Need help on accounting questions. , I just need the multiple choice answers... Question 9: In the straight line depreciation formula you learned in this
Need help on accounting questions. , I just need the multiple choice answers...
Question 9: In the straight line depreciation formula you learned in this course:
A: the amount of charge (depreciation expense) will decrease each period as the depreciable base shrinks
B: two of the choices above represent correct statements
C: the numerator of the fraction represents the gross cost of the asset
D: salvage value (residual value) must be taken into account and this will necessarily increase the size of the reported expense
E: an equal charge against earnings will result each period
Question 10: Sally Driver operates and is the sole owner of a firm called OTS .OTS had 2011 revenues of $220,000, expenses of $140,000, and an income tax rate of 30 percent. Net income after taxes would be
A: $56,000
B: None of the above
C: $252,000
D: $24,000
E: $80,000
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