Question: Question: 42 The most appropriate reason for a decrease in accumulated depreciation is that A. Major repairs have lengthened the life of an asset. Answer

Question: 42 The most appropriate reason for a decrease in accumulated

Question: 42 The most appropriate reason for a decrease in accumulated depreciation is that A. Major repairs have lengthened the life of an asset. Answer (A) is correct. If major repairs have lengthened the life of an asset, the should reduce the amount of accumulated depreciation l carrying amount of the asset. This practice is acceptable representing the increased life of an asset. B.A depreciable asset has been recorded at current cost. C. Depreciation for prior periods was understated. D. Retained earnings have been appropriated for a possible retirement

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