Chapter 9.docx - Which of the following is disclosed in the...

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Which of the following is disclosed in the statement of financial position or the notes to the financial statements? Depreciation method used. Depreciation expense for the period.
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The year the asset was purchased. Accumulated depreciation by class of asset. The units-of-activity method is generally not suitable for buildings . airplanes. delivery equipment. factory machinery Natural resources are generally shown on the statement of financial position under Investments. Equity. Property, Plant, and Equipment .
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Intangibles. The balance in the Accumulated Depreciation account represents the amount charged to expense in the current period. amount charged to expense since the acquisition of the plant asset. cash fund to be used to replace plant assets. amount to be deducted from the cost of the plant asset to arrive at its fair value. As a recent graduate of State University you're aware that IFRS requires component depreciation for plant assets. A friend has asked you to succinctly explain what component depreciation means. Which of the following correctly describes component depreciation? The method that requires that significant parts of a plant asset with different useful lives be depreciated separately. The method of depreciation recommended for an asset that is expected to be significantly more productive in the first half of its useful life. The method used to prorate annual depreciation on a time basis. The method used to ensure that the depreciation rate remains constant from year to year.
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