MULTIPLE CHOICE Accounting??????

_____Which of the following should not be included in the plant assets (property, plant, and equipment) classification?


a. Land on which warehouse sits


b. Building housing corporate headquarters


c. Parking lot used by visitors


d. Land held for investment.





____Salvage value is deducted for the initial computation of depreciation expense in all of the following methods with the exception of


a. straight-line.


b. units-of-activity.


c. declining-balance.


d. All of the above include a deduction of salvage value.





____The cost of a patent should be amortized over


a. 40 years.


b. the shorter of its legal life or its useful life.


c. the longer of its legal life or its useful life.


d. its useful life.

MULTIPLE CHOICE Accounting??????
_____Which of the following should not be included in the plant assets (property, plant, and equipment) classification?


d.Land held for investment.





____Salvage value is deducted for the initial computation of depreciation expense in all of the following methods with the exception of


c.declining-balance.





____The cost of a patent should be amortized over


b.the shorter of its legal life or its useful life.
Reply:1d 2a 3d