It Is Expected That the Service Potential of a Non-Current

question 54

Multiple Choice

It is expected that the service potential of a non-current asset will decline over time.The appropriate accounting treatment is to:

• A) amortise the asset over its useful life.
• B) disclose the effect in the notes to the statement of financial position if it is material in nature.
• C) write-off the asset.
• D) accrue the difference as a payable in adjusting entries at the end of the period.

Comprehend the effects of taxes on specific markets, such as SUVs and lattes.

Recognize how taxes can be substituted by other market interventions like quotas or price controls.

Understand the concept of tax neutrality and the conditions under which taxes do not distort market outcomes.

Understand the process and significance of myelination in the development of the nervous system.