A business,which has a calendar year accounting period,purchased an asset on March 1,2018.The business disposed of the asset on August 31,2019.For the calendar year 2019,depreciation should be calculated from January 1 to August 31.

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For the calendar year 2019, depreciation should be calculated for the period the asset was in use, which is from January 1, 2019, to August 31, 2019, the date it was disposed of.

A Business,which Has a Calendar Year Accounting Period,purchased an Asset