Answered: Under CCA method, depreciation is…

Under CCA method, depreciation is provided on the _____ of the asset: a. Historical cost b. Past cost c. Current cost d. Original cost

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter5: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 4TF: LO1 Depreciable cost is the difference between the original cost of the asset and its accumulated...

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Question

Under CCA method, depreciation is provided on the _____ of the asset:

Historical cost

Past cost

Current cost

Original cost

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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