When calculating the depreciation or amortization of long-lived assets management must
A)measure the depreciable or amortizable basis of the asset.
B)estimate its service (useful) life.
C)decide the pattern of expiration of asset cost over its service life.
D)all of the above
E)none of the above

Question

Quizplus · Accepted Answer

All of these factors are necessary when calculating the depreciation or amortization of long-lived assets. Management must measure the depreciable or amortizable basis of the asset, estimate its service (useful) life, and decide the pattern of expiration of asset cost over its service life in order to properly calculate and record depreciation or amortization expenses.

When Calculating the Depreciation or Amortization of Long-Lived Assets Management