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  3. blanket company recently purchased a new machine.

Blanket Company recently purchased a new machine. The machine was assigned a five-year life...

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Question

Accounting

Blanket Company recently purchased a new machine. The
machine was assigned a five-year life with no salvage
value.
Select the best response from those below regarding
the depreciation for this asset.
Group of answer choices
if we choose double declining balance depreciation rather than
straight-line, depreciation expense in the first year of the asset's
life will be lower
if we choose double declining balance depreciation rather than
straight-line, net income for the first year of the asset's life will
be lower
if we choose double declining balance depreciation rather than
straight-line depreciation, total assets will be greater at the end
of the first year of the asset's life
two of the above statements are correct
all of the above statements are correct
none of the above statements are correct
Flag question: Question 2

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