
Understanding Depreciation and Amortization

Interactive Video
•
Mathematics, Business
•
9th - 12th Grade
•
Hard

Lucas Foster
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of both depreciation and amortization?
To avoid paying taxes on an asset
To spread the cost of an asset over its useful life
To increase the value of an asset
To immediately expense the full cost of an asset
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the truck example, what is the initial cost of the truck?
$20,000
$40,000
$60,000
$80,000
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What method of depreciation is used in the truck example?
Straight-line
Sum of the years' digits
Units of production
Double declining balance
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
By the end of the second year, what is the book value of the truck?
$0
$60,000
$40,000
$20,000
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the total depreciation expense over the three-year period for the truck?
$80,000
$60,000
$40,000
$20,000
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much is the annual amortization expense for the license fee?
$4,000
$1,000
$500
$2,000
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the book value of the license fee at the end of the third year?
$1,000
$0
$3,000
$2,000
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