Which of the following is not necessary in calculating the depreciation expense for the first year for a newly purchased factory forklift?

Question

Quizplus · Accepted Answer

Market value of the forklift during its useful life is not necessary for calculating the first year's depreciation expense. Depreciation calculations typically require the asset's cost, its estimated salvage value, its useful life, and the depreciation rate, but not its future market value.

Which of the Following Is Not Necessary in Calculating the Depreciation