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Unformatted text preview: uestion 1 (1 point) How is the depreciation process consistent with the matching principle? Student response: Student Response Answer Choices a. the accumulated depreciation account is matched with the plant asset account on the balance sheet b. the cost of consuming plant assets is matched with the periods that benefit from using the assets c. the book value of the asset is matched with the current market value of the asset d. the depreciation method used is matched with the expected productivity of the asset Score: 1 / 1 Question 2 (1 point) The systematic allocation of the cost of natural resources to the periods that benefit from their use is known as Student response: Student Response Score: 1 / 1 Question 3 (1 point) Assume a building was purchased for $250,000 and used for four of its estimated 10-year life. It has residual value of $50,000 and the straight- line method is used for depreciating the building. The book value of the building after the four years' of usage would be reported on the balance line method is used for depreciating the building....
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