Which of the Following Must Be Considered in Estimating Depreciation

question 463

Multiple Choice

Which of the following must be considered in estimating depreciation on an asset for an accounting period?

• A)only the original cost of the asset
• B)only the asset's useful life
• C)both the original cost of the asset and its useful life
• D)the decline in its fair market value
• The Accounting Information System 3 - 11

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Definitions:

Smartphone

A mobile phone that performs many of the functions of a computer, typically having a touchscreen interface, internet access, and an operating system capable of running downloaded apps.

Camera

A device used to capture images or videos, either as analog or digital data.

Input

The data or information sent to a system or device, serving as the operational basis for processing or output generation.

CPU

Central Processing Unit, the main unit of a computer that performs the majority of processing operations.