- What are the characteristics of plant assets?
- How is the cost of a plant asset determined?
- If the cost of a plant asset exceeds its fair value, then at what amount should the asset be recorded? Why?
- If the value of a plant asset exceeds its cost, should the asset be recorded at more than its cost?
- What are land improvements?
- How is depreciation defined for accounting purposes?
- Is depreciation a process of valuation?
- Identify and discuss the various depreciation methods.
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