ACC 342 Study Guide - Summer 2018, Comprehensive Midterm Notes - Income Statement, Venture Capital, Triangulation
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B: the depreciable base for an asset is, its service life, the excess of its cost over residual value, the difference between its replacement value and cost, the amount allowable under macrs. B: the overriding principle for all depreciation methods is that the method must be, conservative and economic, systematic and rational, consistent and conservative, significant and material. C: 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, straight-line, units-of-production, double-declining balance, sum-of-the-year"s digits. A: in the first year of an asset"s life, which of the following methods has the smallest depreciation, straight-line, declining balance, sum-of-the-years" digits, composite or group. D: an asset acquired january 1, 2013, for ,000 with an estimated 10-year life and no residual value is being depreciated in an equipment group asset account that has an average service life of eight years.
