Assuming no additions, replacements, or extraordinary repairs, the book value of a long-lived asset declines over time. Group startsTrue or False
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Assuming no additions, replacements, or extraordinary repairs, the book value of a long-lived asset declines over time.
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- LO1 The purpose of depreciation is to (a) spread the cost of an asset over its useful life. (b) show the current market value of an asset. (c) set up a reserve fund to purchase a new asset. (d) expense the asset in the year it was purchased.31 When a noncurrent asset is classified as held for sale a. depreciation ceases at the date it is classified as held for sale b. depreciation continues until the asset’s actual sale c. depreciation continues until its carrying value exceeds its fair value less cost to sell d. it is almost certain that the asset will be sold in a short period of time.11 _______________is the reduction in the value of the fixed assets because of their use, wear and tear, efflux of time; depletion etc. a. None of the given options b. Amortization c. Depreciation d. Depletion Clear my choice
- Question 36: Match each depreciation function with its best description. SLN SYD DDB Results in the same depreciation expense each period Bases depreciation on the number of years in the asset's useful life Accelerated depreciation method that doesn't consider salvage value in the initial calculations12-When the asset cannot be used further and there is no value expected from the sale , the asset has to be a. Sold as used one b. Discarded c. Sold as scrap d. DepreciatedQ 9.48: Prior to calculating the depreciation expense, what must a company estimate about the asset at the end of its useful life? Obsolescence Accumulated depreciation Depreciable cost AE Salvage value Qu D. Study th - Apply de plant asse O Mark for Review Confidence SUBMIT F5 F8 10 F6 AA F4 4. 8.
- Q 9.47: A larger amount of depreciation is allocated to the earlier years of the asset's useful life than to the later years of the asset's life is a distinguishing feature of which method of depreciation? A Straight-line Units-of-activity Declining-balance Amortization Question Objec O Mark for Review Confidence SUBMIT 17 F8 F9 F10 44 44 %23 %24 & 8. 4 R YQ 9.50: Which of the following processes best describes depreciation? Cost allocation B Asset valuation Asset devaluation Cost accumulation O Mark for Review Confidence SUBMIT F3 F4 F5 F6 F7 F8 F9 F10 A CO %2403:35 An asset is depreciated over whichever is longer, the asset's service life or physical life. True or False True False
- 4G+ 12:13 PM 10.9KB/s l 75 01:47:08 Remaining Multiple Choice Group or composite depreciation: Requires changing the composite rate each year. Usually records a gain or loss on retirement of assets Is not based on historical cost. Does not provide effective results if the group members' useful lives are widely different. 13 of 75Question 11: What argument in the double-declining balance depreciation function may equal zero? Answer: A. O Cost B. O Salvage Value C. O Useful Life D. O Period Copynight 2022 - Labyrih Leaning- AI Rights Reserved ab 49F Mas End PrtSon Home FA & 6. R T Y.QUESTION 29 Which of the following statement best describes depreciation? a. It is a means of spreading the payment for non-current assets over a period of years Ob.It is a decline in the market value of assets Oc. It is a means of spreading the cost of non-current assets over the estimated useful life d.It is a means of estimating the amount of money needed to replace the assets
