Assets may be grouped according to common traits and depreciated by using a single composite rate.

Name: Assets may be grouped according to common traits and depreciated by using a single composite rate.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

This statement is true. Assets that share common characteristics, such as being in the same asset class, can be grouped together and assigned a single composite depreciation rate. This simplifies the depreciation process and makes it more manageable.

Assets May Be Grouped According to Common Traits and Depreciated