Asked by Shannon Williams on May 17, 2024
Verified
Use of the double-declining-balance method of depreciation results in increasing amounts of depreciation expense over an asset's life.
Double-Declining-Balance Method
An accelerated depreciation method that doubles the normal depreciation rate, reducing the carrying value of an asset more quickly.
- Understand the different techniques of depreciation, how to calculate them, and their effects on financial reports.
Verified Answer
AV
Arjun VenkatMay 20, 2024
Final Answer :
False
Explanation :
The double-declining-balance method of depreciation results in decreasing amounts of depreciation expense over an asset's life, as it applies a constant rate to a decreasing book value each year.
Learning Objectives
- Understand the different techniques of depreciation, how to calculate them, and their effects on financial reports.