unun8 y Subscriptions / Courses / AC205:1301-2017 Fall Financial Accounting Chap

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unun8 y Subscriptions / Courses / AC205:1301-2017 Fall Financial Accounting Chapter 11 / Exam 3 QUESTION 3 Not yet an5Wered Points out of 2.00 Flag question which of the following is not necessary in calculating the depreciation expense for the first year for a newly purchased factory forklift? Select one: A. Estimated useful life B. Fair market value of the forklift during ts useful ife C. Total cost of the forklift at acquisition and the estimated salvage value mmi ::: D. Depreciation rate Next page

Explanation / Answer

The option B. Fair market value of the forklift during the useful life is correct.

Explanation:

Option A, C & D are used in calculating the depreciation expenses. and the fair market value is nothing to do with depreciation expenses calculation.

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