PP&E

PP&E

University

11 Qs

quiz-placeholder

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PP&E

PP&E

Assessment

Quiz

Mathematics

University

Practice Problem

Hard

Created by

HASSAN BAHAR

Used 5+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cost-SV / Useful life in Units

Straight-Line

Units-of-Production

Declining-Balance

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

ABC Co. received $4,000 for equipment with a book value $3,000.

DR Gain on Disposal

DR Loss on Disposal

CR Gain on Disposal

CR Loss on Disposal

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is not an intangibles?

Copyright

Oil

License

Trademark

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Journal entry to discard equipment with $0 SV after depreciation

DR Dep Exp

CR Acc Dep

DR Acc Dep

CR Dep Exp

DR Acc Dep

CR Equ

DR Equ

CR Acc Dep

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is not a natural resource?

Goodwill

Gold

Minerals

Timberland

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

$10,000 Cost, 5 Year Useful life, 10,000 Units of production, and $2,000 SV?

Declining-Balance = .20

Declining-Balance = .40

Declining-Balance = .30

Declining-Balance = .50

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Two * Straight-line rate

Straight-Line

Units-of-Production

Declining-Balance

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