Intro into Depreciation

Depreciation occurs due to

• Wear and tear

• Time lapse

• Obsolescnce

• All 3

Depreciation of an asset should not exceed the: 2015

• Original cost

• Depreciable value

• Market price

• Scrap value

The physical deterioration in assets due to use in business is called: 2017

• Depletion

• Obsolescence

• Wear and tear

• Accident

____________ of depreciation is where the same amount
of depreciation is charged each year.

• straight
  line method

• written down value

• revaluation method

To increase rather than decrease in value

• Obsolete

• Wear and tear

• Revalue

• Appreciate

How often is depreciation recorded?

• Weekly

• Monthly

• Yearly

• Daily

Which of these is the best description for appreciation of value?

• Something is worth a lot of money

• Something is worth a low amount of money

• Something's value is increasing over time

• Something's value is decreasing over time

Which of these is the best description for depreciation?

• Something is worth a lot of money

• Something is worth a low amount of money

• Something's value is increasing over time

• Something's value is decreasing over time

Select all items that could appreciate over time.

• Property

• Coin

• Car

• Sports Trading Card

• Lettuce

Select all items that could appreciate over time.

• Poutine

• Vintage Clock

• Record Player

• Comic Book

• Video Game