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When units-of-production method is used to calculate the depreciation of an asset, adjustments to depreciation expense are not required for partial years. O a. True
When units-of-production method is used to calculate the depreciation of an asset, adjustments to depreciation expense are not required for partial years. O a. True O b. False The cost of an addition is debited to the appropriate asset account. O a. False O b. True Under the double diminishing-balance method of depreciation, an asset may not be depreciated below its estimated residual value. O a. False O b. True On January 1, Year 1, a machine with a useful life of 5 years and a residual value of $ 1,000 was purchased for $ 20,000. What is the depreciation expense in Year 2 under the diminishing-balance method? O a. $ 3,200 O b. $ 4,800 . $ 3,040 O d. $4,560
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