What is the systematic periodic transfer of the cost of a fixed asset to an expense account during its expected useful life called (also thought of as the decline in usefulness of the fixed asset over time)? Group of answer choices fixing costing amortization depreciation

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: What is residual value or salvage value? Why and how is it calculated in accounting?

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: re for impairment loss assets, what will happen/effect?

A: Impairment Recognition Business assets should be tested for impairment when a situation occurs that…

Q: Which of these is not part of the historical cost of an asset? O training costs sales tax on…

A: Historical cost in accounting encompasses the original cost incurred to acquire an asset, which…

Q: Describe cost depletion and percentage depletion. Whyis the percentage depletion method permitted?

A: Depletion: Depletion is defined as the reduction in the value of natural resources due to its…

Q: Depreciation does not measure the decline in market value of an asset each period. True False

A: Depreciation is a financial method used to allocate cost of a tangible asset like land or building…

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: 21. The activity method of depreciation A) conceptually associates cost in terms of input measures.…

A: Under activity method of depreciation, expense of depreciation is charged on the basis of asset’s…

Q: A sunk cost can be described as which of the following?     A historical cost     Cannot be…

A: Sunk Cost: The sunk cost is the historical cost that already has been incurred previously, which is…

Q: Is residual value deductible when using accelerated method of depreciation>

A: The accelerated method of depreciation includes double declining balance method, 150% declining…

Q: Why is it difficult to assign a dollar figure to an intangible cost? Can it ever be done? Explain…

A:

Q: Define accelerated depreciation method

A: Depreciation can be referred as the reduction in the fair value of an asset due to its usage over…

Q: Write the fraction obtained from the straight-line depreciation rate?

A: Depreciation expense accounts for the decline in the value of assets used in the business due to…

Q: How do you figure units-of-production method depreciation?

A: The business entities are required to charge the depreciation expense on their assets so that the…