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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Would it be desirable to require all companies to use the same depreciation method?

To determine

Describe whether it is necessary to require all companies to use the same depreciation method.

Explanation

Straight-line depreciation method: The depreciation method which assumes that the consumption of economic benefits of long-term asset could be distributed equally throughout the useful life of the asset, is referred to as straight-line method.

Describe whether it is desirable to require all companies to use the same depreciation method as follows:

No, it is not advisable to use the same method of depreciation for all companies...

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