The cost of a leasehold improvement is depreciated over which of the following time periods?

A) the term of the lease
B) the life of the improvement
C) a time period determined by management
D) the shorter of the physical life of the asset or the lease term

Answer: D

Business

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Appropriations to retained earnings can be:

A) contractual only. B) an increase in retained earnings. C) a decrease in total retained earnings. D) None of these answers is correct.

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