Please answer questions correctly Question 3: Which of these is not an estimate used to determine depreciation expense?Answer:A.B.C.D.CostO Salvage valueOUseful lifeO Residual value Question 2: What is an accelerated depreciation method?Answer:A.B.C.D.OA method that leads to depreciation during years one and two onlyA method that is calculated more easily than other methodsOA method that leads to more depreciation over the life of the asset than would otherwise be recordedO A method that leads to more depreciation during the early years of an asset's useful life than in the later years

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Description: Please answer questions correctly Question 3: Which of these is not an estimate used to determine depreciation expense?Answer:A.B.C.D.CostO Salvage valueOUseful lifeO Residual value Question 2: What is an accelerated depreciation method?Answer:A.B.C.

Depreciation is of revenue nature.It is needed to be charged on asset over life of the asset.It is…

Answered: Question 3: Which of these is not an…

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Accounting

Question 3: Which of these is not an estimate used to determine depreciation expense? Answer: A. B. C. D. Cost O Salvage value O Useful life O Residual value

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 8MC: An accelerated depreciation method that takes more expense in the first few years of the assets life...

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Characteristics of Depreciation Methods Below is a common list of depreciation methods and characteristics related to depreciation. Depreciation Methods a. Straight-line depreciation method b. Declining balance depreciation method c. Units-of-production depreciation method when actual units produced increases over the life of the asset Characteristics 1. Results in depreciation expense that decreases over the life of the asset. 2. Results in depreciation expense that increases over the life of the asset. 3. Allocates the same amount of cost to each period of a depreciable assets life. 4. Calculated by multiplying a constant depreciation rate by depreciable cost. 5. Calculated by applying a constant depreciation rate to the assets book value at the beginning of the period. 6. Results in lowest income taxes in early years of the assets life. 7. Consistent with the matching principle. Required: Match one or more of the depreciation methods with each characteristic.
An accelerated depreciation method that takes more expense in the first few years of the assets life is ________. A. units-of-production depreciation B. double-declining-balance depreciation C. accumulated depreciation D. straight-line depreciation
The depreciation method that produces larger depreciation expense during the early years of an asset's life and smaller expense in the later years is a(an): Multiple Choice Accelerated depreciation method. Book value depreciation method. Straight-line depreciation method. Units-of-production depreciation method. Unrealized depreciation method.
Which of the following depreciation methods will result in the most depreciation expense over the life of an asset? Select one: a. Double-declining balance method b. All three methods will result in the same amount of depreciation expense. c. Units-of-production method d. Straight-line method e. Cannot be determined from the information given.
Which of the following statements is the assumption on which straight line depreciation is based? Service value declines as a function of time rather than use Physical wear and tear are more important than economic obsolescence Service value declines as function of obsolescence rather than time The operating efficiency of the asset decrease in later years
Which of the following statements is true regarding depreciation methods?a. The use of a declining balance method of depreciation will produce lower depreciation charges in the early years of an asset’s life compared to the straight-line depreciation method.b. Over the life of an asset, a declining balance depreciation method will recognize more depreciation expense relative to the straight-line method.c. The use of a declining balance method instead of the straight-line method will produce higher book values for an asset in the early years of the asset’s life.d. The use of a higher estimated life and a higher residual value will lower the annual amount of depreciation expense recognized on the income statement
Chapter 8 Why are the costs of plant/long term assets recovered through depreciation vs. expensed out during the period purchased? Choose one of the following depreciation methods to discuss: straight line, units of production, declining balance. Share how depreciation using this method is calculated and provide an example of when this would be the most ideal method for application.
Which combination of depreciation methods and useful lives is most conservative in the year a depreciable asset is acquired? B . Declining balance depreciation with a long useful life.
Which combination of depreciation methods and useful lives is most conservative in the year a depreciable asset is acquired? C . Declining balance depreciation with a short useful life.
Which of the following depreciation methods initially ignores salvage value in its calculation? a.Declining-balanceb.Sum-of-the-years'-digitsc.Straight-lined.Units-of-production
4. The most appropriate definition of depreciation is: A. A means of determining the decrease in the market value of an asset over time B. A means of allocating the cost of an asset over a number of accounting periods C. A means of setting funds aside for the replacement of the asset D. A means of estimating the current value of the asset
3-Which method of depreciation considers that the asset has greater service potential in the earlier years a. Diminishing balance method b. Units of production method c. Straight line method d. Fixed depreciation method