For a Depreciable Asset,the Amount of Depreciation Recognised Shall Be

question 48

Multiple Choice

For a depreciable asset,the amount of depreciation recognised shall be in accordance with AASB 116.The asset shall be.

• A) Fully depreciated over the shorter of the lease term and its useful life, if there is a reasonable certainty that the lessee will obtain ownership by the end of the lease term..
• B) Fully depreciated over the shorter of the lease term and its useful life, if there is no reasonable certainty that the lessee will obtain ownership by the end of the lease term
• C) Fully depreciated over the longer of the lease term and its useful life, if there is no reasonable certainty that the lessee will obtain ownership by the end of the lease term..
• D) Fully depreciated over the longer of the lease term and its useful life, if there is no reasonable certainty that the lessee will obtain ownership by the end of the lease term.
• E) Fully depreciated only if the economic benefits to be realised from using the asset are for a period of greater than 10 years.

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Definitions:

Community Moral

The shared values, ethics, and norms of right and wrong within a specific community.

Autonomy

The capacity to make an informed, uncoerced decision independently, often associated with the concept of self-governance or freedom.

Norms

Social rules or standards that govern behavior in groups or societies, often unwritten and learned implicitly.

Expected Behaviors

Actions or reactions that are considered appropriate, usual, or predicted in a given situation based on societal norms or standards.