What is incorporated in cost basis of long-lived asset

Reference no: EM1394576

What is incorporated in cost basis of long-lived asset? Describe for at least two kinds of such assets. What sources are reliably utilized to evaluate asset's useful life? How is the suitable depreciation method determined? Has concept of asset impairment changed accounting for long-lived assets under historical cost model? If so, how?

Reference no: EM1394576

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