When calculating depreciation expense using the straight line method, useful life is expressed as time Odollars O Units expected to be produced Osalvage value
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- The formula for straight-line depreciation is O service life/(cost + residual value). O cost/service life. O(cost + residual value)/service life. O(cost - residual value)/service life.The depreciation method that applies a constant percentage to depreciable cost in calculating depreciation is Select one: a. none of these. b. straight-line. c. declining-balance. d. units-of-activity.Residual value is: A. Also called residual value.B. Also called scrap value.C. An estimate of the asset's value at the end of its benefit period.D. A factor relevant to determining depreciation.E. All of these.
- Straight-line depreciation per annum is defined as: a. Initial Cost / Useful Life b. Initial Cost c. Useful Life d. Initial Cost - Useful Life e. Initial Cost + Useful LifeIn calculating depreciation, both the long-lived asset's cost and useful life are based on estimates. Select one: O True O Falsewhich method of depreciation is used when the cost of an asset is written off in equal amounts over it's expected life
- Depreciation expense under the invenroty system is a. Based on cost minus residual value b. Basically a FIFO approach to depreciable asset accounting c. The result of applying a depreciation rate to the original cost d. A measure of the change in the value of the depreciable assetThe factors used to compute depreciation expense are an asset's: O Cost, residual value, and service life. O Cost, residual value, and physical life. O Cost, replacement value, and service life. O Fair value, residual value, and economic life.Which depreciation method would result in the same depreciation expense amount regardless of the partial period cor Select one: a. Sum-of-the-years'-digits b. Declining-balance c. Units-of-production d. Straight-line
- An estimate of a plant asset's value at the end of its useful life, is knowing as. Select one: a. Book value O b. Residual value O c Depreciable cost O d CostThe relevant factor(s) in computing depreciation include: A. Cost.B. Residual value.C. Useful life.D. Depreciation method.E. All of these.Which of the following is not a factor in computing depreciation for a period? present value residual value method of cost allocation service life