Disposition In Chapter 11 we continued our learning of PP\&E, along with Intangible assets. However, in this chapter we focused on the utilization and disposition of the assets. Specifically we learned about different methods of depreciation and amortization. We further learned about to adjust our depreciation methods when we identify that our assets live longer than expected or the residual value changes. Finally, we learned how account for issues of impairment with our business assets. For this discussion, please respond to the following prompts: - What is cost allocation and what are the basic elements needed to properly allocate costs of an asset? - What are the 2 broad methods of depreciation and give examples of each. - When disposing of a business asset, what needs to be considered as part of the accounting transaction? What are possible outcomes and impacts to the financial statements when an asset is disposed of