The period over which the asset should be depreciated by the lessee is:
A)3 years
B)6 years
C)the rate as determined by the Commissioner of Taxation
D)cannot be determined from the information provided

Question

Quizplus · Accepted Answer

The period over which the asset should be depreciated by the lessee cannot be determined from the information provided. The depreciation period may depend on factors such as the type and expected useful life of the asset.

The Period Over Which the Asset Should Be Depreciated by the Lessee