To calculate depreciation,all of the following must be determined except:
A)useful life of the asset
B)salvage value of the asset
C)acquisition cost of the asset
D)fair market value of the asset

Question

Quizplus · Accepted Answer

Fair market value of the asset is not necessary to determine depreciation. The other three factors, i.e., useful life, salvage value, and acquisition cost, are required to calculate depreciation.

To Calculate Depreciation,all of the Following Must Be Determined Except