Answered: An estimate of how an asset will be…

An estimate of how an asset will be used up over its useful life is known as what? a. Depreciation rate b. Impairment value c. Useful life d. Salvage value

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 9MC: The estimated economic life of an asset is also known as ________. A. residual value B. book value...

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Question

An estimate of how an asset will be used up over its useful life is known as what?

	a.	Depreciation rate
	b.	Impairment value
	c.	Useful life
	d.	Salvage value

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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