Which of the Following Statement Is True of Accumulated Depreciation

question 70

Multiple Choice

Which of the following statement is true of accumulated depreciation?

• A) It is the difference between acquisition costs and residual value.
• B) It is the difference between acquisition costs and revalued amount.
• C) It is initially derecognised on first time revaluations.
• D) It is restated proportionately to the carrying amount and the revalued amount of the asset.

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Definitions:

Value Types

The different categories or kinds of values that people hold, which influence their attitudes, behaviors, and perceptions of the world.

Universal

Applicable everywhere or in all cases; general in nature.

Cultures

The sum of attitudes, customs, and beliefs that distinguishes one group of people from another, transmitted through languages, material objects, ritual, institutions, and art.

Culture

Represents the shared values, beliefs, behaviors, and artifacts that characterize a group of people or society.