Answered: Depreciation of an asset based on the…

Depreciation of an asset based on the number of hours of usage is a(n): a. Time-based method b. Accelerated method c. Replacement method d. Activity-based method

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 7MC: Depreciation of a plant asset is the process of ________. A. asset valuation for statement of...

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Question

Depreciation of an asset based on the number of hours of usage is a(n):

a. Time-based method

b. Accelerated method

c. Replacement method

d. Activity-based method

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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