Question Mode

Multiple Choice Question

A calendar year$-$end business purchased a new delivery truck at the end of March during the current year. The truck was the only asset purchased during the year. Which of the following statements is correct regarding the depreciation that can be taken on the truck?

Multiple choice question.

The business will deduct three$-$fourths $(9$ months$)$ of a full year's depreciation on the truck in the current year.

The business will deduct one$-$half of a full year's depreciation on the truck in the current year.

The business will deduct one$-$fourth $(3$ months$)$ of a full year's depreciation on the truck in the current year.

The business will deduct $3\mathrm{.}5$ quarters $(10\mathrm{.}5$ months$)$ of depreciation on the truck in the current year.

Multiple Choice Question

A calendar year$-$end business purchased a new delivery truck at the end of March during the current year. The truck was the only asset purchased during the year. Which of the following statements is correct regarding the depreciation that can be taken on the truck?

Multiple choice question.

The business will deduct three$-$fourths $(9$ months$)$ of a full year's depreciation on the truck in the current year.

The business will deduct one$-$half of a full year's depreciation on the truck in the current year.

The business will deduct one$-$fourth $(3$ months$)$ of a full year's depreciation on the truck in the current year.

The business will deduct $3\mathrm{.}5$ quarters $(10\mathrm{.}5$ months$)$ of depreciation on the truck in the current year.