Any rational,systematic method of depreciation is acceptable,as long as costs are allocated to expense in a reasonable manner.

Question

Quizplus · Accepted Answer

This statement is correct. The Generally Accepted Accounting Principles (GAAP) do not prescribe any specific method of depreciation. A business may choose any rational, systematic method of depreciation as long as it allocates costs to expense in a reasonable and consistent manner.

Any Rational,systematic Method of Depreciation Is Acceptable,as Long as Costs