Instructions
1. Are the amounts at which fixed assets are reported in the
balance sheet their approximate market values as of the balance
sheet date? Explain.
2. Describe the nature of depreciation as the term is used in
accounting.
3. Under what conditions is the use of accelerated depreciation
most appropriate?
4. Differentiate between the accounting for capital expenditures
and revenue expenditures.
Are the amounts at which fixed assets are reported in the balance sheet their approximate market values as of the balance sheet date? Explain.

