Which of the Following Statements Is (Are) Correct

question 95

Multiple Choice

Which of the following statements is (are) correct?

• A) Accumulated depreciation represents a fund being accumulated for the replacement of plant assets.
• B) The cost of a machine includes the cost of repairing damage to the machine during the installation process.
• C) A company may use different depreciation methods in its financial statements and its income tax return.
• D) The use of an accelerated depreciation method causes an asset to wear out more quickly than does use of the straight-line method.

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Definitions:

Simulation

A training method that represents a real-life situation, with trainees making decisions resulting in outcomes that mirror what would happen on the job.

Apprenticeship

A method of instructing a new wave of professionals in a specific trade or profession through practical, on-the-job training complemented by some theoretical study.

Cross-training

The process of training employees to perform multiple roles or tasks beyond their original job function, enhancing flexibility and workforce adaptability.

Apprenticeship

A system of training a new generation of practitioners of a trade or profession with on-the-job training and often some accompanying study.