To determine depreciation expense for a plant asset,all of the following must be known except:
A)estimated useful life.
B)current market value.
C)estimated residual value.
D)historical cost.
E)All of the above must be known to determine depreciation expense for a plant asset.

Question

Quizplus · Accepted Answer

Current market value is not necessary to determine depreciation expense for a plant asset. The other options - estimated useful life, estimated residual value, and historical cost - are essential in calculating depreciation expense.

To Determine Depreciation Expense for a Plant Asset,all of the Following