more than 1. Which one of the following statements is not true? on is the process of allocating the purchase price of an asset minus its residual value to expense for each period benefited by the asset. The cost of an asset includes all acquisition costs necessary to obta derived from the asset The service life of an asset is the measure of the number of years the asset before its disposal. The residual value of an asset is the difference between the expected book value o asset at the end of its service and the costs of disposal. b. in the benefits to be c. of service expected from d. f the Which one of the following is not a factor that limits the service life of an asset? a. b. c. d. 2. operational use adequacy deterioration as a function of time obsolescence 3. When the expected cost to dismantle and remove an asset exceeds the expected selling price of a depreciable asset, the difference is a. added to cost to determine the depreciable base b. deducted from accumulated depreciation in the year of disposal c. not included in the calculation of depreciation expense d. added to the depreciation expense in the year of disposal 4. Depreciation of an asset based on the number of hours of usage is a(n) b. accelerated method c. replacement method d. activity-based method