cha11 Ex - 11 Depreciation Impairments and Depletion 21 The...

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11. Depreciation, Impairments, and Depletion 21. The following is true of depreciation accounting. a. It is not a matter of valuation. b. It is part of the matching of revenues and expenses. c. It retains funds by reducing income taxes and dividends. d. All of these. 22. Which of the following principles best describes the conceptual rationale for the methods of matching depreciation expense with revenues? 23. Depreciation accounting 24. Which of the following most accurately reflects the concept of depreciation as used in accounting? 25. The major difference between the service life of an asset and its physical life is that a. service life refers to the time an asset will be used by a company and physical life refers to how long the asset will last. b. physical life is the life of an asset without consideration of salvage value and service life requires the use of salvage value. c. physical life is always longer than service life. d. service life refers to the length of time an asset is of use to its original owner, while physical life refers to how long the asset will be used by all  owners. 26. The term "depreciable base," or "depreciation base," as it is used in accounting, refers to
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