How is the amount of depreciation taken each ye... - SS1 Accounting Meaning of Depreciation Question
How is the amount of depreciation taken each year calculated?
A
Using a specific formula based on the cost of the asset, its estimated useful life, and its estimated salvage value at the end of its useful life
B
Based on the current market value of the asset
C
Based on the company's current income
D
Using a formula based on the company's total assets
correct option: a
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