Multiple Choice
It is expected that the service potential of a non-current asset will decline over time.The appropriate accounting treatment is to:
A) Amortise the asset over its useful life.
B) Disclose the effect in the notes to the balance sheet if it is material in nature.
C) Write-off the asset.
D) Accrue the difference as a payable in adjusting entries at the end of the period.
E) None of the given answers.
Correct Answer:
Verified
Correct Answer:
Verified
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