ACC-302-ch13-NO

ACC-302-ch13-NO - ACC 302 Ch 13 Multiple Choice Identify...

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ACC 302 Ch 13 Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. ____ 1. The composite depreciation method a. is applied to a group of homogeneous assets. b. is an accelerated method of depreciation. c. does not recognize gain or loss on the retirement of specific assets in the group. d. excludes salvage value from the base of the depreciation calculation. ____ 2. A method that ignores salvage value in calculating periodic depreciation expense is the a. productive-output method. b. group composite method. c. sum-of-the-years'-digits method. d. double-declining-balance method. ____ 3. Which of the following reasons provides the best theoretical support for accelerated depreciation? a. Assets are more efficient in early years and initially generate more revenue. b. Expenses should be allocated in a manner that "smooths" earnings. c. Repairs and maintenance costs will probably increase in later periods, so depreciation should decline. d. Accelerated depreciation provides easier replacement because of the time value of money. ____ 4. When the estimate of an asset's useful life is changed, a. depreciation expense for all past periods must be recalculated. b.
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ACC-302-ch13-NO - ACC 302 Ch 13 Multiple Choice Identify...

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