To Measure Depreciation, Which of the Following Must Be Known

question 70

Multiple Choice

To measure depreciation, which of the following must be known?

• A) market value of asset.
• B) fixed asset turnover
• C) cost of asset.
• D) the amount of cash to replace fixed asset

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Definitions:

Salaries Expense

The total amount paid to employees for services rendered during a specific period, reported on the income statement.

Credit Balance

The amount of money in a financial account that indicates a creditor's position; it can also mean the positive balance in a customer's account.

Wages Payable

Wages payable are the amounts owed to employees for work performed that have not yet been paid; it is a liability on the company's balance sheet.

Office Equipment

The tools, devices, or machinery used in an office setting to assist with day-to-day operations, including computers, printers, and furniture.