Question 40 (1 point) On January 1, 2022, Anvil Corp. purchased equipment for $60,000. It was expected to last 5 years, after which it will be sold for $5,000. It is expected to be used for a total of 10,000 machine hours, and was used for 500 hours during 2022, and 750 hours during the year ended December 31, 2023. The depreciation expense for 2023 using the units-of-production method will be A) $4,125. B) $4,500. C) $6,875. D) $11,000. Question 41 (1 point) The relationship between current assets and current liabilities is A) useful in evaluating a company's solvency. B) useful in evaluating a company's liquidity. C) useful in determining the amount of a company's non-current debt. D) useful in determining profitability. Question 42 (1 point) Accounts Receivable are valued and reported on the Statement of Financial Position A) only if they are not past due. B) at their carrying amount (Net Book Value). C) at their gross amount less refund liability. D) in the non-current asset