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    oz asier cyrus
    Depreciation is a process of allocating costs over time rather than valuing assets. Improvements refer to expenditures that increase existing facility capacity. Small tools used for over a year are classified as fixed assets on the balance sheet. The period for capitalizing interest on borrowing ends when the asset is substantially complete and ready for intended use.

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    Depreciation is a process of allocating costs over time rather than valuing assets. Improvements refer to expenditures that increase existing facility capacity. Small tools used for over a year are classified as fixed assets on the balance sheet. The period for capitalizing interest on borrowing ends when the asset is substantially complete and ready for intended use.

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    Depreciation is a process of allocating costs over time rather than valuing assets. Improvements refer to expenditures that increase existing facility capacity. Small tools used for over a year are classified as fixed assets on the balance sheet. The period for capitalizing interest on borrowing ends when the asset is substantially complete and ready for intended use.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    23 views1 page

    2

    Uploaded by

    oz asier cyrus
    Depreciation is a process of allocating costs over time rather than valuing assets. Improvements refer to expenditures that increase existing facility capacity. Small tools used for over a year are classified as fixed assets on the balance sheet. The period for capitalizing interest on borrowing ends when the asset is substantially complete and ready for intended use.

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    © All Rights Reserved
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    4. Depreciation is simply a process of allocation and not of valuation.

     *
    TRUE
    FALSE
    5. The term "improvements" refers to an expenditure made: *
    to improve existing facilities by increasing capacity
    to help ensure continuity of service capacity
    to restore capacity after abandonment or retirement
    for new facilities which increase capacity
    6. Small tools and containers used repeatedly for more than a year are classified on the balance sheet
    as: *
    deferred charges
    fixed assets
    inventories
    current assets
    7. The period of time during which the interest on borrowing must be capitalized ends when: *
    the asset is substantially complete and ready for its intended use.
    the asset is abandoned, sold or fully depreciated
    the activities that are necessary to get the asset ready for its intended use have begun
    no further interest cost is being incurred

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