Asked by Sarah Dinek on Jun 05, 2024
Verified
According to the 2012 AICPA survey of 2011 annual reports,the most widely-used method of depreciation for financial reporting purposes is
A) declining-balance.
B) sum-of-the-years' digits.
C) straight-line.
D) units-of-production.
AICPA Survey
A survey conducted by the American Institute of Certified Public Accountants that gathers information on various topics related to accounting practices, trends, and professional issues.
Straight-Line
A method of calculating depreciation or amortization by evenly spreading the cost of an asset over its useful life.
- Acknowledge the factors determining the carrying value of prolonged-life assets and the influence of assorted depreciation methods in use.
Verified Answer
KD
Kevin DurantJun 09, 2024
Final Answer :
C
Explanation :
The 2012 AICPA survey of 2011 annual reports found that the most widely-used method of depreciation for financial reporting purposes is straight-line.
Learning Objectives
- Acknowledge the factors determining the carrying value of prolonged-life assets and the influence of assorted depreciation methods in use.