Which of the Following Assets Is Not Subject to Depreciation

question 129

Multiple Choice

Which of the following assets is not subject to depreciation and whose usefulness does not decline over time?

• A)Patents
• B)Copyrights
• C)Land
• D)Coal mine

Understand the concept of cost of goods available for sale and how it's computed for a manufacturing company.

Recognize similarities and differences between financial and managerial accounting.

Identify examples of period costs versus product costs in a manufacturing setting.

Prepare and interpret manufacturing cost data and its impact on inventory accounts and income statements.

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Definitions:

Regulatory Controls

Mechanisms put in place by a government or regulatory body to manage operations and behaviors within industries to ensure compliance with legal standards and to protect public interest.

Unlimited Liability

A legal obligation in business where owners are personally responsible for all debts of the business, extending to their personal assets.