Method of computing depreciation

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Is it necessary for a business to use the same method of computing depreciation (a) for all classes of depreciable assets, (b) in the financial statements and in determining income taxes? Explain your answer.

What is depreciation and what are some of the methods we use to claculate it? Provide examples, show your formula/work.

In what financial statement are plant assets reported and hiow are they presented?

Reference no: EM13766862

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