Depreciation of Property Quiz
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following types of property can be depreciated?

  • Land
  • Personal use property
  • Inventory
  • Equipment (correct)

    • Why is land not depreciable?

  • It is a wasting asset. (correct)
  • It is expected to be used up or depleted.
  • It is a current asset.
  • It is not considered a physical form of property.

    • Which of the following is an example of intangible property that can be depreciated?

  • Land
  • Trademarks (correct)
  • Buildings
  • Inventory

    • Why is personal use property not depreciable?

    <p>It is not used in a trade or business.</p> Signup and view all the answers

    Which of the following is an example of tangible property that cannot be depreciated?

    <p>Land</p> Signup and view all the answers

    More Like This

    Test Your Knowledge of Depreciation of Property Received for Services
    5 questions

    Test Your Knowledge of Depreciation of Property Received for Services

    CrispOnyx avatar
    CrispOnyx
    Mastering Property
    24 questions

    Mastering Property

    RestfulNephrite avatar
    RestfulNephrite
    Real Estate Investment Quiz
    18 questions

    Real Estate Investment Quiz

    MonumentalBandura avatar
    MonumentalBandura
    Accounting Chapter 19 Quiz
    48 questions

    Accounting Chapter 19 Quiz

    AppealingMorningGlory80 avatar
    AppealingMorningGlory80
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser