USGAAP Authoritative Guidance Requires That Financial Statements Report Depreciation Charges

question 17

Multiple Choice

U.S.GAAP authoritative guidance requires that financial statements report depreciation charges based on _____ estimates; in practice, the _____ method is the most common.

• A)aggressive; straight-line (time)
• B)reasonable; straight-line (time)
• C)aggressive; straight-line (use)
• D)reasonable; straight-line (use)
• E)reasonable; accelerated

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Definitions:

First Order

In kinetics, refers to a reaction where the rate is proportional to the concentration of one reactant.

Reaction Order

A term used in chemistry to describe the power to which the concentration of a reactant is raised in the rate equation.

Half-Life

The time required for half of the atoms in a radioactive sample to decay, transforming into different atoms or into a lower energy state.

Half-Life

The time required for a quantity to reduce to half its initial amount, commonly used in describing the decay of radioactive materials.