1|Page
CM 2113 WANG TEST 1 EXAM LATEST 2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
Depreciable Value is the purchase price less the
_______________.
Select one:
a. Repair factor
b. Sale price
c. Salvage value
d. Book value - ANSWER-c. Salvage value
The _________________ of depreciation claims a constant
amount on taxes each year.
Select one:
a. Anticipated Resale Method
b. Declining Balance Method
c. Sum-Of-The-Years Method
d. Straight Line Method - ANSWER-d. Straight Line Method
,2|Page
___________ is an artificial expense of an estimated loss that can
offset income taxes over a period of years.
Select one:
a. Operating Expenses
b. Tire Replacement
c. Depreciation
d. Loss - ANSWER-c. Depreciation
A grader has an initial cost of $220,000 and an estimated useful
life of 10 years. The salvage value after 10 years of use is
estimated to be $25,000. What is the book value at the end of the
first year if the straight-line method of depreciation accounting is
used?
Select one:
a. $25,000
b. $44,500
c. $19,500
d. $200,500 - ANSWER-d. $200,500
, 3|Page
The contractor purchased the tractor for $220,000 and anticipates
a salvage value of $25,000 after 5 years of use. What is the
annual depreciation amount in the 3rd year if the sum-of-the-
years method of depreciation accounting is used?
Select one:
a. $39,000
b. $26,000
c. $52,000
d. $65,000 - ANSWER-a. $39,000
The contractor purchased the tractor for $220,000 and anticipates
a salvage value of $25,000 after 5 years of use. What is the
annual depreciation amount in the 2nd year if the double
declining-balance method of depreciation accounting is used?
Select one:
a. $52,800
b. $19,008
c. $88,000
d. $31,680 - ANSWER-a. $52,800
CM 2113 WANG TEST 1 EXAM LATEST 2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
Depreciable Value is the purchase price less the
_______________.
Select one:
a. Repair factor
b. Sale price
c. Salvage value
d. Book value - ANSWER-c. Salvage value
The _________________ of depreciation claims a constant
amount on taxes each year.
Select one:
a. Anticipated Resale Method
b. Declining Balance Method
c. Sum-Of-The-Years Method
d. Straight Line Method - ANSWER-d. Straight Line Method
,2|Page
___________ is an artificial expense of an estimated loss that can
offset income taxes over a period of years.
Select one:
a. Operating Expenses
b. Tire Replacement
c. Depreciation
d. Loss - ANSWER-c. Depreciation
A grader has an initial cost of $220,000 and an estimated useful
life of 10 years. The salvage value after 10 years of use is
estimated to be $25,000. What is the book value at the end of the
first year if the straight-line method of depreciation accounting is
used?
Select one:
a. $25,000
b. $44,500
c. $19,500
d. $200,500 - ANSWER-d. $200,500
, 3|Page
The contractor purchased the tractor for $220,000 and anticipates
a salvage value of $25,000 after 5 years of use. What is the
annual depreciation amount in the 3rd year if the sum-of-the-
years method of depreciation accounting is used?
Select one:
a. $39,000
b. $26,000
c. $52,000
d. $65,000 - ANSWER-a. $39,000
The contractor purchased the tractor for $220,000 and anticipates
a salvage value of $25,000 after 5 years of use. What is the
annual depreciation amount in the 2nd year if the double
declining-balance method of depreciation accounting is used?
Select one:
a. $52,800
b. $19,008
c. $88,000
d. $31,680 - ANSWER-a. $52,800
