Depreciation expense is based on estimates of ________.
A) the value of the asset
B) the use and purpose of the asset
C) the life and pattern of the asset's use
D) the warranty that comes with the asset

Question

Quizplus · Accepted Answer

Depreciation expense is calculated based on estimates of the asset's useful life and the pattern in which the asset's economic benefits are expected to be consumed.

Depreciation Expense Is Based on Estimates of ________