A truck that cost $12,000 was originally being depreciated over four years using the straight-line method with no salvage value. If after one year, it was decided that the truck would last an additional four years (or a total of five years), the second year's depreciation would be
a. $1,500
b. $2,250
c. $2,400
d. $3,000
B
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When an auditor uses MUS and analyzes misstatements in the lower stratum, which of the following will be multiplied by the sampling interval to calculate the projected misstatement for each misstated item?
a. Audit value. b. Tolerable misstatement. c. Sampling interval. d. Tainting percentage.
Which is not a reason for employee theft?
a. Personal economic pressure b. The opportunity to steal c. Personal social norms d. Peer pressure
All of the following are programs to insure fundamental risks EXCEPT
A) federally subsidized flood insurance. B) auto physical damage insurance. C) Social Security. D) unemployment insurance.
The following testamentary grant is made: "To my wife for life, remainder to my children when all have graduated from college." Discuss what interests have been created and any applicable rules