Asked by Frank Salaiz on May 20, 2024
Verified
Under the double-declining-balance method the depreciation rate used each year remains constant.
Double-Declining-Balance
An accelerated depreciation method that doubles the rate of depreciation of an asset's value compared to the straight-line method.
Depreciation Rate
The percentage at which an asset's value decreases over time due to use, wear, or obsolescence.
- Differentiate between various methods of depreciation and their application.
Verified Answer
DR
Deanna ReynoldsMay 21, 2024
Final Answer :
True
Explanation :
In the double-declining-balance method of depreciation, a constant rate, which is double the straight-line depreciation rate, is applied to the book value of the asset at the beginning of each year, making the rate used constant throughout the depreciation process.
Learning Objectives
- Differentiate between various methods of depreciation and their application.
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