During the Year, Garbin Corporation (A Calendar-Year Corporation That Manufactures

Multiple Choice

During the year, Garbin Corporation (a calendar-year corporation that manufactures furniture) purchased the following assets: $\begin{array}{lcr}\underline{\text { Date }} & \underline{\text { Asset }}& \underline{\text { Cost}} \\\text { February 15 } & \text {Tools } & \$40,000 \\\text { March 3 } &\text { Machines}&50,000 \\\text { October 6 } & \text { Office Building }& 110,000 \end{array}$
In computing depreciation of these assets, which of the following averaging conventions will be used?

A) Half-year and mid-month
B) Mid-quarter and mid-month
C) Half-year, mid-quarter, and mid-month
D) Mid-quarter only