1. Tahani's company receives a 7.5%, six-month note, for $6,000 and the total interest due on the maturity date is going to be: A. 450.00 B. 225.00 C. 220.50 D. 112.50 E. 333.75 2. The straight-line depreciation method, and the double-declining-balance depreciation method they both: A. Produce the same total depreciation over the useful life of an asset B. Produce the same depreciation expense for each year C. Produce the same book value for each year D. Are acceptable for tax purposes only 3. A document that is an itemized statement of goods prepared by a vendor listing, the customer's name, sold items, sales prices and terms of the sale is the: A. Purchase requisition B. Purchase order C. Invoice D. Receiving report E. Invoice approval 4. Which of the following is a method that allocates an equal portion of the total depreciable cost for a plant asset to each unit produced is called: A. Accelerated depreciation B. Declining-balance depreciation C. Straight-line depreciation D. Units-of-production depreciation E. Modified accelerated cost recovery system (MACRS) depreciation 5. Dana's company purchased a car for $62,000 with a salvage value of $6,000 on October 1, 2010. It has an estimated useful life of 5 years. Using the straight-line method, how much depreciation expense should the company recognize on December 31, 2010? A. $2,000 B. $2,333 C. $2,750 D. $2,800 E. $2,600