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Basic Question 0 of 10
ABC Co. has the following accounts:
Property, plant & equipment: $120,000
Accumulated depreciation: 30,000
Total assets: $100,000
Gross profit: $50,000
Depreciation expense: 10,000
Tax expense: 5,000
Net Income: $35,000
B. 3 years.
C. 9 years.
Current assets: $10,000
Property, plant & equipment: $120,000
Accumulated depreciation: 30,000
Total assets: $100,000
Gross profit: $50,000
Depreciation expense: 10,000
Tax expense: 5,000
Net Income: $35,000
The average age of fixed asset is estimated to be:
A. 1 year.
B. 3 years.
C. 9 years.
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Learning Outcome Statements
analyze and interpret financial statement disclosures regarding property, plant, and equipment and intangible assets
CFA® 2025 Level I Curriculum, Volume 2, Module 7.