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cestrela7 [59]
3 years ago
6

Which of the following is true about depreciation?

Business
1 answer:
Vladimir79 [104]3 years ago
5 0

Answer:

a) Depreciation expense is a special kind of prepaid expense.

Explanation:

Depreciation expense is treated the same way as amortized costs, which are actually a type of "prepaid" expenses. You depreciate an asset over time in a similar manner as you accrue prepaid expenses. Accumulated depreciation and carrying value are not meant to reflect an asset's market value since a can company can choose accelerated depreciation, bonus depreciation or even expensing the asset. Accumulated depreciation is a contra asset account that reduces the asset's carrying value.

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A company uses a periodic inventory system and during the December 31, year-end physical inventory count discovered that they ha
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Answer:

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