In depreciation calculation the life of an asset is:
A) A certain figure
B) An estimate
C) A predetermined figure for all fixed assets
D) none
Correct Answer:
Verified
Q18: Loss of usefulness occasioned by improved production
Q19: Depreciation applies to_
A)Current assets
B)Wasting assets
C)Intangible assets
D)Fixed assets
Q20: Depletion applies to_
A)Current assets.
B)Wasting assets
C)Intangible assets
D)Fixed assets
Q21: Income tax authorities recognize this method _
A)Straight
Q22: Amortization applies to
A)Current assets.
B)Wasting assets.
C)Intangible assets.
D)Fixed assets
Q24: Depreciable amount plus residual value of a
Q25: Cost of fixed asset minus accumulated depreciation
Q26: The estimate about useful life of a
Q27: XYZ has imported a machine from abroad.
Q28: Which of the following fixed asset is
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