2. Which of the following best describes the amount by which an asset\'s value d

Question

2. Which of the following best describes the amount by which an asset's value decreases until it reaches its salvage value? A. Depreciation B. Appreciation C. Approximation D. Estimation 3. Direct material cost related to your Apple computer would be the cost for the A. Unskilled labor B. Supervisor salary C. Electricity usage D. Intel memory chip 4. Indirect labor cost for a manufactured automobile would include A. Salary of the CEO of the company B. Salary of workers who fit the tyres C. Salary of workers who paint finished cars D. Salary of workers who fit the engine

Explanation / Answer

(2) (A)

Depreciation is a non-cash expense that apportions an asset's cost over its productive life using a depreciation method.

(3) (D)

Direct material cost includes any cost of inputs.

(4) (C)

Labor cost incurred for painting of a car that is already finished is indirect labor cost.

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