In depreciating the cost of an asset, accountants are most concerned witha. Conservatism.b. Recognizing revenue in the appropriate period.c. Full disclosure.d. Recognizing expense in the appropriate period.

In depreciating the cost of an asset, accountants are most concerned witha. Conservatism.b. Recognizing revenue in the appropriate period.c. Full disclosure.d. Recognizing expense in the appropriate period.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter9: Acquisitions Of Property

Section: Chapter Questions

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Question

In depreciating the cost of an asset, accountants are most concerned with
a. Conservatism.
b. Recognizing revenue in the appropriate period.
c. Full disclosure.
d. Recognizing expense in the appropriate period.

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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