On January 1, 2017, Xit Company bought a new delivery truck for $30,000. Xit plans to use the truck for 4 years, after which it will be sold for $6,000. Depreciation expense for 2020, the fourth year of use, using double-declining-balance equals:
A. $0.
B. $1,500.
C. $6,000.
D. $3,750.
Answer: A
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Suppose that World Corp. signs a contract to build a lumber processing plant in Siberia. If World Corp. signs a second contract agreeing to take partial payment for the plant in the form of lumber products produced at the plant, it is engaging in:
A) barter. B) switch trading. C) offset. D) compensation trading. E) a hybrid countertrade arrangement.
Which of the following is not an organization that provides alternative dispute resolution services for firms of different nations?
A) the United Nations Commission of International Trade Law B) the London Court of International Arbitration C) the Munich Tribunal of International Mediation D) the International Chamber of Commerce
A leasehold from week to week or month to month is called a(n):
a. fee simple absolute. b. estate for years. c. periodic tenancy. d. tenancy at sufferance.
Dissavings can
A) decrease assets and net worth. B) decrease both assets and liabilities. C) decrease net worth only. D) decrease assets only or liabilities only.