Anassetis________whenanotherassetcandothejobmoreefficiently.
A. fullydepreciated
B. old
C. physicallyworn
D. obsolete
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Whichofthefollowingdepreciationmethodsbestappliestothoseassetsthatgenerategreaterrevenueearlierintheirusefullives?
A. Straight-linemethod
B. Depletionmethod
C. Double-declining-balancemethod
D. Units-of-productionmethod
Allofthefollowingareneededtomeasuredepreciation,EXCEPTfor:
A. cost.
B. marketvalue.
C. estimatedusefullife.
D. estimatedresidualvalue.
Whencomparedtotheothermethodsofdepreciation,thedouble-declining-balancemethodofdepreciationgivesdepreciationexpensethatis:
A. lessintheearlierperiods.
B. higherintheearlierperiods.
C. approximatelythesameinearlierperiodsaswithothermethods.
D. thesamefromyeartoyear.
Thejournalentrytorecorddepreciationexpenseis:
A. debitDepreciationExpense,credittheassetaccount.
B. debitAccumulatedDepreciation,credittheassetaccount.
C. debittheassetaccount,creditAccumulatedDepreciation.
D. debitDepreciationExpense,creditAccumulatedDepreciation.
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