What are causes of depreciation on non-current assets? (i) change in its cost of repair (ii) change in its market value (iii) changes in technology O a. (ii) and (iii) O b. (i) only C. (iii) only d. (i) and (ii)

Q: The book value of a depreciable asset is       A. The original cost of the asset.       B. The…

A: Book value of a depreciable asset means value at which that asset is shown in the balance sheet of…

Q: The transfer to expense of the cost of intangible assets attributed to the passage of time or…

A: Introduction:- Assets are mainly classified into two types as follows under:- Tangible assets…

Q: Which of the following is a not a true statement about depreciation? a. It is the allocation of cost…

A: The Depreciation expense is charged on fixed assets as reduction in the value of the fixed assets…

Q: practice, would you expect the depreciation expense for a non-current asset to be overestimated or…

A: Depreciation is charged for non current asset being tangible asset, because of its wearing and tear…

Q: what is Intangible Asset ? what is  Wasting Assets ?  what is  Asset Cost ? what is  Residual…

A: In the world of finance and accounting, there are key concepts that businesses use to manage their…

Q: Depreciation represents a __________ in the value of fixed assets.

A: Fixed assets are those type of assets which are being held by the business for longer period of…

Q: An asset is impaired if: O a. The amount to be recovered through use (or sale) of the asset exceeds…

A:

Q: Depreciation is a process that involves: a. Increasing the value of assets b. Distributing the cost…

A: Depreciation reflects the gradual consumption, wear and tear, or obsolescence of the asset as it…

Q: Depletion expense a. is usually part of cost of goods sold b. includes tangible equipment in the…

A: Depletion expense It is a technique used to allocate the cost of extracting natural resources. It is…

Q: Indicate whether each of the following statements is true or false. An impairment loss is the…

A: 1. True, Impairment loss occurs when the asset suffers a depreciation in the Fair value(Expected…

Q: Hw would you best define an intangible asset? A. Assets that dont impact the company's valuation…

A: Intangible Assets has no physical existence but they still add revenue generation for the company It…

Q: What element must be present when determining if an asset is a depreciating asset?   a. An asset…

A: Depreciation is a reduction in the value of assets due to the usage of that asset. depreciating…

Q: Which of the following is not a factor that limits the service life of an asset? a. Operational use…

A: Service life can be limited due to physical causes and functional causes such as deterioration,…

Q: Can the selection of a depreciation method affect a company’s asset replacement policy (i.e., the…

A: 1. Depreciation Expenses - Depreciation Expenses are the expense incurred on the wear and tear of…

Q: Which of the following depreciation methods will result in the most depreciation expense over the…

A: Depreciation is method to allocate the cost of the Assets over its useful life

Q: The cost of an asset that is subject to depreciation os called?

A: Assets: Assets are those resources that are owned by the business organization which has an economic…

Q: True or False: Depreciation is the decline in the market value of tangible fixed assets.

A: Fixed assets are assets having a life of more than one year. Fixed assets like buildings, equipment,…

Q: ulness, the cost of fixed assets is sys

A: The correct answer is  b. Equipment Allocation     As Time Passes, Fixed Assets, Other Than…

Q: When market value of an asset is higher than book value, depreciation is not charged. A) True B)…

A: Meaning of depression. Depreciation is a reduction in the value of asset due to wear and tear,…

Q: Q1 Which of the following statement (s) is (are) true? (i) When no future economic benefits are no…

A: Intangible assets are those assets that lack physical substance and are identifiable and…

Q: Which of the following best describes depreciation? A.ccounts for the market value of a physical…

A: Depreciation is an expense which is shown and recorded in the expense side of the income statement.

Q: What is meant by straight line method if charging depreciation?

A: Depreciation: Depreciation refers to the reduction in the monetary value of a fixed asset due to its…

Q: Depreciation is a process used to: a) Increase the value of an asset over time b) Allocate the cost…

A: In accounting, depreciation refers to the method of allocating the cost of a tangible or physical…

Q: 5. 1.) What is the difference between current assets and plant and equipment? Do you think land…

A: AssetsThe resources owned by an individual or business is known as an asset. Enterprises have…

Q: (a)  When would the disposal of a long-term asset result in no gain or loss? (b)  When would the…

A: Long-term assets can be defined as those assets which are held by an investor for a period of more…

Q: Equipment that is sold before the depreciation period has expired is what?

A: Depreciation is the allocation of cost of asset over the useful life of the asset. There are several…

Q: 4. Depletion expense a. is usually part of cost of goods sold b. includes tangible equipment in the…

A: Depletion expense is the cost incurred on resources. It can be cost of extraction or cost of…

Q: Define the following: (a) Depreciation (b) Book value

A: Asset refers to the resources kept by the businesses to be utilized in the operations. Assets are…

Q: epreciation

A: Depreciation is an expense which is charged on fixed assets and reduces the value of fixed assets…

Q: Which of the following is a false statement about depreciation? It has no impact on cash It…

A: The accelerated method is a method of charging the depreciation in which the higher amount of…

Q: What does it mean the "property and equipment are started at cost"?  A. Fair value  B.historical…

A: As per IFRS/IAS 16 Property plant and Equipment is to be Initially measured at cost.

Q: When is accumulated depreciation reduced to zero? Explain and provide examples for each element…

A: Accumulated depreciation is a contra-asset account that represents the cumulative depreciation…

Q: A) What is residual value? Support your answer with an example ( word count 100)

A: Lets understand the basic. When person purchase the asset they expected that after the useful life…

Q: 97. The portion of the acquisition cost of an asset yet to be allocated is known as A. Written down…

A: Acquisition Cost is the value at which the asset is acquired. The cost of acquisition is the total…

Q: 8. In Investing Activities, the gross fixed assets has to added back with depreciation. a. True b.…

A: Investing activities include Purchases or Sale of long term assets .

Q: Profit is earned on sale of asset when a. Sale price is less than Accumulated Depreciation b. Sale…

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: Which method of deprecaution is used when the cost of an asset is written off in equal amounts over…

A: There are number of methods of depreciation.

Q: 1.  What are the three main factors used in determining depreciation of a fixed asset? 2. What is…

A: Depreciation systematically accounts for declines in the worth of a firm's assets over time. In the…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.