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What the appropriate accounting treatment is to

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Reference no: EM132533856

Question 1: It is expected that the service potential of a non-current asset will decline over time. The appropriate accounting treatment is to:

  1. amortise the asset over its useful life.
  2. disclose the effect in the notes to the statement of financial position if it is material in nature.
  3. write-off the asset.
  4. accrue the difference as a payable in adjusting entries at the end of the period.

Reference no: EM132533856

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