Reference no: EM132898707

Problem 1: Depreciated replacement cost is equal to the

A. Sound Value

B. Depreciable amount

C. Net appreciation

D. Carrying amount

Problem 2: Which of the following is not a similarity in the treatment for depreciation and depletion?

A. The rate may be change upon revision of the estimated productive life.

B. Both depreciation and depletion are based on time.

C. Assets are reported in the same classification in the statement of financial position.

D. The estimated life is based on economic or productive life.

Problem 3: The term "depreciable base" or "depreciation base" refers to

A. The acquisition cost of the asset

B. The estimated fair value of the asset at the end of the useful life

C. The total amount to be charged to expense over an asset's useful life

D. The cost of the asset less the related depreciation recorded to date