Once a depreciation method is chosen for an asset

Reference no: EM131017417

Once a useful life is established for an asset it cannot be changed.
True or False

Once a depreciation method is chosen for an asset that depreciation method cannot be changed.
True or False

Straight-line depreciation is the most common depreciation method in use. 1)
True or False .

Double declining balance depreciation is used only when an asset is expected to decline in value rapidly due to changes in technology.
True or False

Payment for repairs to a newly purchased piece of equipment that was damaged during shipment can also be capitalized as a necessary cost of getting the machinery functional.

Reference no: EM131017417

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