ndow Help %9 Acanvas maastrichtuniversity.nl Meeting 7.pdf (page 5 of 5) Q Search 4. ABC Company purchased a tow truck for €225,000 on January 1, 2019. It was originally depreciated on a straight-line basis over 10 years with a residual value of €45,000. On December 31, 2021, before adjusting entries had been made, the company decided to change the remaining estimated life to 4 years (including 2021) and the residual value to €7,500. What was the depreciation expense for 2021? A) €45,375 B) €18,000 C) €22,500 D) €56,250 MacBook Air

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.