Asked by
Kassy Hinojosa
on Oct 14, 2024
Verified
The useful life of a depreciable asset cannot change subsequent to an intragroup sale of the asset.
Depreciable Asset
An asset that decreases in value over time due to use, wear and tear, or obsolescence and can be written off against income.
Useful Life
The estimated period over which an asset is expected to be usable by an entity, or the number of production or similar units expected to be obtained from the asset by an entity.
- Acquire understanding of the requirements for adjusting depreciation for assets obtained within the group and their effects on consolidation.
Verified Answer
JS
Learning Objectives
- Acquire understanding of the requirements for adjusting depreciation for assets obtained within the group and their effects on consolidation.