3101 Quiz-11 for Student 2010

3101 Quiz-11 for Student 2010 - Acct3101 1. Quiz-Chap.11...

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Acct3101 Quiz--Chap.11 Name: 1. The following is true of depreciation accounting. a. It is not a matter of valuation to find the fair value of the item. b. It is part of the matching of revenues and expenses. c. It reduces income taxes expense. d. All of these. 2. The term "depreciable cost," or "depreciable base," as it is used in accounting, refers to a. the total amount to be charged (debited) to expense over an asset's useful life. b. the cost of the asset less the related depreciation recorded to date. c. the estimated market value of the asset at the end of its useful life. d. the acquisition cost of the asset. 3. A change in estimate should a. result in restatement of prior period statements. b. be handled in current and future periods. c. be handled in future periods only. d. be handled retroactively. 4. Of the following costs related to the development of natural resources, which one is not a part of depletion cost? a.
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3101 Quiz-11 for Student 2010 - Acct3101 1. Quiz-Chap.11...

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