Which one of the following statements is not a disclosure requirement for depreciation?
A)the balance of major classes of depreciable assets
B)a general description of the method(s)used for depreciation
C)the accumulated depreciation for each major class of depreciable asset
D)the useful lives for each major class of depreciable asset

Question

Quizplus · Accepted Answer

All of the other options (A, B, and C) are disclosure requirements for depreciation as per accounting standard regulations. Option D is not a requirement and is therefore the correct answer. The useful lives of assets are used to calculate depreciation but are not necessarily a requirement to disclose for financial statement reporting purposes.

Which One of the Following Statements Is Not a Disclosure