the allocation of the costs of plant assets over their expected useful lives is known as: multiple choice accumulated depreciation. a contra account. an accrued account. depreciation. the expense recognition (matching) principle.

Question

26-10-2022
Business

Answered

the allocation of the costs of plant assets over their expected useful lives is known as: multiple choice accumulated depreciation. a contra account. an accrued account. depreciation. the expense recognition (matching) principle.

Answer :

Other Questions

A company purchased a delivery van for $22,800 with a salvage value of $2,400 on september 1, year 1. it has an estimated useful life of 6 years. using the stra

A truck acquired at a cost of $255,000 has an estimated residual value of $13,000, has an estimated useful life of 44,000 miles, and was driven 3,100 miles duri

Item 19 a company purchased an asset for $3,900,000 that will be used in a 3-year project. the asset is in the 3-year macrs class. the depreciation percentage e

Jeriel is going to invest in an account paying an interest rate of 6.5% compounded continuously. how much would jeriel need to invest, to the nearest cent, for

The scratch off tickets for the $500 loaded game cost $5 each. if you buy one, what is the expected gain or loss when you consider both the cost of the ticket a

Bob broker lists a property and jane broker finds a buyer. jane secures the earnest money deposit and opens a separate escrow account for it. the contract did n

If the market price for tomatoes is $5 per pound and the tomato market is perfectly competitive, what is the profit-maximizing quantity? multiple choice questio

a form of pre-paid interest where one point equals one percent of the loan amount is known as what...?

Topco manufactures two types of gadgets: regular and deluxe. the firm's overhead consists of the following: $375,000 in setup costs with number of setups as the

Hawkeye wiring, incorporated has 1,000 shareholders who own a total of two million shares of its common stock. the stock currently sells for $80 per share. the

qwrblue qwrblue · Answer 1 · 2022-11-01T23:36:07-04:00

The allocation of the costs of plant assets over their expected useful lives is called depreciation. The correct answer would be option D.

An accounting method known as depreciation is used to spread out a tangible item's cost over the period of its life span. This displays how much of a resource's usable life has already been tapped. Additionally, it gives companies the option to invest in assets over a defined period of time and profit from them. Businesses do not have to entirely account for them in the financial year the assets are purchased, which significantly reduces the overall cost of ownership.

Failure to account for depreciation can have a substantial impact on a company's profits. Businesses may also depreciate long-term assets for taxation and accounting purposes. Similar to amortization, which considers the value increase of intangible assets over time, depreciation reduces the original cost of an asset over time.

To read about amortization refer:

https://brainly.com/question/10561878

#SPJ4