Which of the following would not be used to determine the cost of an asset?
A) cash paid
B) sales and excise taxes
C) cost incurred to get the asset ready for its intended use
D) depreciation method

Question

Quizplus · Accepted Answer

The depreciation method is used to allocate the cost of an asset over its useful life, but it is not used to determine the actual cost of the asset. The cost of an asset is determined by the cash paid to acquire it, any sales or excise taxes paid, and any costs incurred to get the asset ready for its intended use.

Which of the Following Would Not Be Used to Determine