ACC205 Week 3 – Videos & Quiz: Chapter 6
This attempt took 2 minutes.
Question 1
1 / 1 pts
Once a useful life is established for an asset it cannot be changed.
True
False
Question 2
1 / 1 pts
Once a depreciation method is chosen for an asset that depreciation method cannot be changed.
True
False
Question 3
1 / 1 pts
Straight-line depreciation is the most common depreciation method in use.
True
False
Question 4
1 / 1 pts
Double declining balance depreciation is used only when an asset is expected to decline in value rapidly due to changes in technology.
True
False
Question 5
1 / 1 pts
Payment for repairs to a newly purchased piece of equipment that was damaged during shipment can also be capitalized as a necessary cost of getting the machinery functional.
True
False
Quiz Score: 5 out of 5
