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62844171-Chap-011

62844171-Chap-011 - Chapter 011 Operational Assets...

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Chapter 011 Operational Assets: Utilization and Impairment Multiple Choice Questions 55. The factors that need to be determined to compute depreciation are an asset's: A. Cost, residual value, and physical life. B. Cost, replacement value, and service life. C. Fair value, residual value, and economic life. D. Cost, residual value, and service life. Learning Objective: 1 Level of Learning: 1 56. The depreciable base for an asset is: AACSB: Reflective thinking Blooms: Knowledge Learning Objective: 1 Level of Learning: 1 11-1
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Chapter 011 Operational Assets: Utilization and Impairment 57. Depreciation, depletion, and amortization: AACSB: Reflective thinking Blooms: Knowledge Learning Objective: 1 Level of Learning: 1 58. Gains on the cash sales of fixed assets: AACSB: Reflective thinking Blooms: Knowledge Learning Objective: 1 Level of Learning: 1 59. The overriding principle for all depreciation methods is that the method must be: A. Conservative and economic. B. Systematic and rational. C. Consistent and conservative. D. Significant and material. AACSB: Reflective thinking Blooms: Knowledge Learning Objective: 1 Level of Learning: 1 11-2
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Chapter 011 Operational Assets: Utilization and Impairment 60. Depreciation: AACSB: Reflective thinking Blooms: Knowledge Learning Objective: 1 Level of Learning: 2 61. Assuming an asset is used evenly over a four-year service life, which method of depreciation will always result in the largest amount of depreciation in the first year? AACSB: Reflective thinking Blooms: Comprehension Learning Objective: 2 Level of Learning: 2
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