What Is the Basis for Choosing Depreciation Methods for Fixed

question 1

Multiple Choice

What is the basis for choosing depreciation methods for fixed assets under IAS 16 (Property,Plant,& Equipment) ?

• A)Tax minimization
• B)Profit maximization
• C)Useful life of the fixed asset
• D)Pattern of economic benefits to be derived from the asset

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Definitions:

Bipedalism

The ability to walk on two legs, a characteristic mainly observed in humans among primates.

Foramen Magnum

A large opening in the base of the skull through which the spinal cord enters and connects to the brain, indicative of bipedal or quadrupedal locomotion in vertebrates.

Femur

The longest and strongest bone in the human body, extending from the hip to the knee.

Levallois Tools

A technology of stone tool production characterized by the striking of flakes from a prepared core, used by prehistoric humans.