When the useful life of an asset is more accurately defined in terms of how much it is used rather than the passage of time, the _____ method is used to calculate depreciation. A. straight-line B. sum-of-the-years' digits     C. units-of-production D. declining-balance   2.The name given to tax rules for getting back or recovering through depreciation deductions the cost of property used in a trade or business, or to produce income is known as the _____ Accelerated Cost Recovery System. A. Municipal B. Modified     C. Minimum D. Maximum

Q: Which of the following methods applies a declining depreciation rate each period to an asset's…

A: Sum-of-the-years' digits Method: Calculating the predicted depreciation of an asset over time using…

Q: Which of the following is considered when depreciating an asset under the cost model? The cost of…

A: Depreciation of Assets The purpose of calculating the depreciation of assets to determine the actual…

Q: Which of the following statements is true? - When using the double-declining-balance method, the…

A: Depreciation refers to fall in the value of capital assets either due to lapse of time, usage or…

Q: Statement 1: The cost of an asset, or other amount substituted for cost, less its residual value is…

A: An asset is depreciable till the level of residual value only. When the WDV of an assets comes to…

Q: which metric is used as the profitability metric and explain what it evaluate?

A: Profitability Matric is somewhere helps to analyse the financial performance and financial position…

Q: The depreciation method in which the depreciable cost of an asset is apportioned equally over its…

A: The depreciation is a decline in the value of tangible assets over their useful life. it is a…

Q: Depreciation is: Oa. the loss in market value of an asset. Ob. the allocation of a long-term asset's…

A: Depreciation is an accounting method for reducing the total amount of a tangible or physical asset…

Q: Which of the following statements if not true? a. Depreciation is the process of allocating the…

A: Residual value is also considered as salvage value. it is an estimation of remaining value assets at…

Q: The cost of an asset that is subject to depreciation is called a.depreciable cost. b.trade-in…

A: Depreciable cost is that portion of cost of asset which can be depreciated. Trade in value relates…

Q: Over the life of a depreciable asset, its recorded cost decreases, the related accumulated…

A: Asset is recorded in the books of account at cost which is depreciated over the useful life of an…

Q: Depreciation is the reduction in the usable value of fixed assets due to normal wear and tear of…

A: Normal Depreciation: It refers to the reduction in the usable value of fixed assets due to normal…

Q: Statement 1: The cost of an asset, or other amount substituted for cost, less its residual value is…

A: Depreciation: It implies to a reduction or fall in the value of fixed assets as a result of its…

Q: -Which method of depreciation considers that the asset has greater service potential in the earlier…

A: Depreciation refers to the process of estimating the decline in the value of a tangible asset owned…

Q: Statement 1: The cost of an asset, or other amount substituted for cost, less its residual value is…

A: An asset can only be depreciated up to the level of residual value. When it reaches the residual…

Q: Which combination of depreciation methods and useful lives is most conservative in the year a…

A: As compare to other combination methods of depreciation, Declining balance depreciation with a long…

Q: Which of the following best describes depreciation? A.ccounts for the market value of a physical…

A: Depreciation is an expense which is shown and recorded in the expense side of the income statement.

Q: Under what depreciation method(s) is an asset’s bookvalue used to calculate depreciation each…

A: Depreciation: Depreciation is a method of reducing the capitalized cost of long-lived operating…

Q: fhich of the tfollowing statement best describes depreciation? a. It is a means of spreading the…

A: Fixed assets: These are the assets which were used in the business for more than one year. These…

Q: Which of the following characteristics is not common to both tangible and intangible assets? a.…

A: Tangible assets refers to the assets which have physical form while intangible assets lack physical…

Q: Depreciation: A. Measures the decline in market value of an asset. B. Measures physical…

A: Depreciation is the wear and tear of an asset that is expensed over the useful life of the asset.…

Q: The depreciation method in which the depreciable cost of an asset is apportioned equally over its…

A: a) in straight line method of depreciation  Depreciation will be apportioned equally over its life…

Q: Depreciation can be defined as the measure of cost or revalued amount of economic benefits of a…

A: Depreciation can also be defined as: It records the usage of a fixed asset over a period of time and…

Q: The following would affect the net income on the last year of the useful life of a long-lived asset…

A: Long lived assets are the fixed assets of the business, which are held by the business for the…

Q: The time an asset is expected to last is called its a.fiscal period. b.depreciation. c.useful life.…

A: Assets: Assets are the resources of an organization used for the purpose of business operations.…

Q: 1. Depreciation is referring to the allocation of the depreciable amount over its estimated useful…

A: 1. Depreciation is referring to the allocation of the depreciable amount over its estimated useful…

Q: Which of the following depreciation methods applies a uniform depreciation rate each period to an…

A: Depreciation is a way of declining the cost of assets over the useful life of assets, the company…

Q: MACRS-GDS deductions are a combination of which other methods of depreciation? a. Sum of Years…

A: MACRS: It stands for Modified Accelerated Cost Recovery System. MACRS is a system of charging…

Q: Which of the statements is incorrect concerning the depreciation methods? a) Under the output…

A: The questions are multiple choice questions Required  Choose the Correct Option

Q: What is book value (or net book value) of plant and equipment and on which financial statement is it…

A: Book value means the value at which it is shown in financial statements.

Q: The process of transferring the cost of an asset to an expense account over time is called A)…

A: 1. The correct option is option “D” D. Depreciation Depreciation: Depreciation refers to the…

Q: When Accumulated depreciation account is credited with the amount of depreciation a. The cost of…

A: When Depreciation on Fixed Assets cumulated every year and credited to Accumulated Depreciation It…

Q: 1. What amount should be recorded initially as cost of the right of use asset? 2. What is the…

A: Sometimes company gets the asset on lease means the ownership of the asset remains with the actual…

Q: Depreciation is the allocation of the cost of a plant asset over its useful life in a rational and…

A: Depreciation is charged on assets for reducing their value which is a result of the use of the asset…

Q: 2. According to PAS 16, items of PPE are initially measured at 1. PAS 16 defines depreciation as…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: Answer the following questions: Required: a-1. Find the discussion of Property, Plant, and Equipment…

A: Business organizations are required to charge the depreciation expense on their assets so as to…

Q: haracteristics of Depreciation Methods In each dropdown below is a list of common depreciation…

A: Assets: Assets are the resources of an organization used for the purpose of business operations.…

Q: For accounting​ purposes, depreciation refers to the process of​ ________.         A. estimating an​…

A: Depreciation is an accounting technique for distributing a tangible or fixed asset's cost over its…

Q: Which depreciation method ignores residual value when computing the depreciable base of an asset?…

A: Option B is correct. Double declining balance method Double declining method ignores residual value…

Q: Depreciation expense under the invenroty system is a. Based on cost minus residual value b.…

A: Depreciation = (Cost - Residual value) / Life of asset

Q: What is the effective life of an asset?   a. The total period of ownership of the asset,…

A: The resources owned by the organization to generate revenues are referred to as the assets. They can…

Q: 1. It is a depreciation method based on the assumption that the value of a property is directl…

A: Note: “Since you have asked multiple question, we will solve the first question for you. If you want…