Explain why certain long-term assets are depreciated, amortized, or depleted instead of remaining in the accounting records at cost until the time of disposal
What will be an ideal response?
The matching principle requires that efforts (expenses) be matched against accomplishments (revenues). A long-term asset helps a business generate revenue, for example by producing inventory that can be sold; and since the asset is consumed in the process, then the expenses related to the asset being used up must be matched against the revenues the asset helps to generate. In other words, the asset should be written off over a period that corresponds to its useful life. That is what depreciation, amortization, and depletion accomplish.
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Which of the following statements about the components of role perceptions is true?
A. Perceived role ambiguity occurs when a salesperson believes the role demands of two or more of his partners are incompatible B. Perceived role conflict arises when salespeople believe they do not have the information necessary to perform the job adequately C. Role inaccuracy is another term for role ambiguity D. Business to business salespeople are particularly vulnerable to role inaccuracy, conflict and ambiguity E. All of the above statements about the components of role perceptions are true
Saying that a set of events is collectively exhaustive implies that one of the events must occur
Indicate whether the statement is true or false