Basic depreciation concepts

Cost or factor depletion is based on _____________ level, not time as used in depreciation.	Answer 1Choose...Gross IncomeHalf-year conventionUsageBook valuePersonal and realZeroSalvage valueRecovery periodDepreciable
Percentage depletion is determined as a stated percentage times___________.	Answer 2Choose...Gross IncomeHalf-year conventionUsageBook valuePersonal and realZeroSalvage valueRecovery periodDepreciable
MACRS depreciation rates extend one year beyond the recovery period because of the required _________________.	Answer 3Choose...Gross IncomeHalf-year conventionUsageBook valuePersonal and realZeroSalvage valueRecovery periodDepreciable
The depreciable life of an asset is also known as the _____________.	Answer 4Choose...Gross IncomeHalf-year conventionUsageBook valuePersonal and realZeroSalvage valueRecovery periodDepreciable
Although land is considered to be real property, it is not ___________.	Answer 5Choose...Gross IncomeHalf-year conventionUsageBook valuePersonal and realZeroSalvage valueRecovery periodDepreciable
MACRS depreciation rates always write-off the asset's value to _____________.	Answer 6Choose...Gross IncomeHalf-year conventionUsageBook valuePersonal and realZeroSalvage valueRecovery periodDepreciable
The two types of property for which depreciation is allowed are known as ________ and ____________property.	Answer 7Choose...Gross IncomeHalf-year conventionUsageBook valuePersonal and realZeroSalvage valueRecovery periodDepreciable
In the straight line method of depreciation, the depreciation charge in the final year reduces book value to ___________________.	Answer 8Choose...Gross IncomeHalf-year conventionUsageBook valuePersonal and realZeroSalvage valueRecovery periodDepreciable
The remaining, undepreciated amount of an investment is known as its ____________.