Which of the following information is not used to determine current period depreciation expense associated with a specific asset?
A)acquisition cost of the asset
B)useful life of the asset
C)residual value of the asset
D)current carrying value of the asset

Question

Quizplus · Accepted Answer

The current carrying value of the asset is not used to determine the current period depreciation expense as it is the result of previous depreciation and accumulated depreciation. The acquisition cost of the asset, useful life, and residual value are all factors used to calculate the depreciation expense.

Which of the Following Information Is Not Used to Determine