Which of the following best describes depreciation? A It is a means of spreading the payment for the asset over its total estimated life B It represents the decline in the market value of the asset C It is a means of spreading the cost of an asset over its estimated useful life D It is a way of estimating the cash needed to replace the asset in the future
Which of the following best describes depreciation? A It is a means of spreading the payment for the asset over its total estimated life B It represents the decline in the market value of the asset C It is a means of spreading the cost of an asset over its estimated useful life D It is a way of estimating the cash needed to replace the asset in the future
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter5: Adjusting Entries And The Work Sheet
Section: Chapter Questions
Problem 1MC: LO1 The purpose of depreciation is to (a) spread the cost of an asset over its useful life. (b) show...
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Which of the following best describes
A It is a means of spreading the payment for the asset over its total estimated life
B It represents the decline in the market value of the asset
C It is a means of spreading the cost of an asset over its estimated useful life
D It is a way of estimating the cash needed to replace the asset in the future
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