Which of Following Is Not a Similarity in the Accounting

question 48

Multiple Choice

Which of following is not a similarity in the accounting treatment for depreciation and cost depletion?

• A) The estimated life is based on economic or productive life.
• B) Assets subject to either are reported in the same classification on the statement of financial position.
• C) The rates may be changed upon revision of the estimated productive life used in the original rate computations.
• D) Both depreciation and depletion are based on time.

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Definitions:

Artificial Part

A manufactured device used to replace a missing body part, such as limbs or joints, often called a prosthesis.

Healed

The process or result of recovering from an injury, disease, or emotional distress.

Any Plane

An unspecified level or surface in space, which can be imagined as an infinitely extending flat area.

Magnetic Resonance Imaging (MRI)

A medical imaging technique used to visualize internal structures of the body in detail using magnetic fields and radio waves.