Chapter 15,16,17 (Depreciation and disposals). Flashcards
1
Q
Chapter 15:
Define “Depreciation.”
A
The allocation of the cost incurred on an Asset over its useful life.
2
Q
Chapter 15:
Define the “Carrying value,” of an Asset.
A
The carrying value of an Asset is the amount of the initial cost price that has yet to be depreciated, plus the estimated residual value of the Asset.
3
Q
Chapter 15:
Define the
A
