A general description of the amortization methods applicable to major classes of depreciable assets is needed in financial reporting only when company policy differs from income tax policy.

Question

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A general description of the amortization methods applicable to major classes of depreciable assets is required in financial reporting to provide users with information about how assets are being depreciated over time, regardless of whether company policy differs from income tax policy.

A General Description of the Amortization Methods Applicable to Major