When a Company Reports Depreciation Expense on the Statement of Comprehensive

Multiple Choice

When a company reports depreciation expense on the statement of comprehensive income:

A) it is based on allocations of cost rather than on the current value of the asset.
B) the firm is reporting that asset's decline in current value during the period.
C) the shortest possible estimated useful life and lowest possible estimated residual value are usually chosen.
D) the company is ignoring the going-concern concept.