The factors used to compute depreciation expense are an asset's: O Cost, residual value, and service life. O Cost, residual value, and physical life. O Cost, replacement value, and service life. O Fair value, residual value, and economic life.

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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The factors used to compute depreciation expense are an asset's:
O Cost, residual value, and service life.
O Cost, residual value, and physical life.
O Cost, replacement value, and service life.
O Fair value, residual value, and economic life.
Transcribed Image Text:The factors used to compute depreciation expense are an asset's: O Cost, residual value, and service life. O Cost, residual value, and physical life. O Cost, replacement value, and service life. O Fair value, residual value, and economic life.
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