Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. declining balance depreciation method of an asset

Declining balance depreciation method of an asset with a cost of $50,000, estimated life of...

90.2K

Verified Solution

Question

Accounting

Declining balance depreciation method of an asset with a cost of $50,000, estimated life of 5 years and estimated salvage value of $10,000
A)Is not allowed under Canadian GAAP
B)Multiplies a constant rate times the net coat(cost less residual value)
C)Results in a smaller depreciation expense in the forst year of depreciation than the straight line method
D)None of the above
E)Results in a larger depreciation expense in the first year of depreciation than ghe straight line method

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

6. A survey of 25 grocery stores produced the following sample statistics: 1.) mean price for a...

Medical Sciences
1.2K views

= 1)What is the functional unit of the kidney 2)What are the two parts of this unit? 3)What...

Psychology
1.2K views

1) Differentiate among the positive and negative symptoms of schizophrenia in terms of psychopharmacological treatment and effect...

General Management
1.2K views

Which one of the five generic competitive strategies most closely approximates the competitive approach that Malibu...

Biology
1.2K views

Noncyclicphotophosphorylationonly occurs inA. Photosystem IB. Photosystem IIC. cholorphyllD. glycolysis

Physics
1.2K views

Here inductor is connected to a resistor as shown When a magnet is moved towards...

Physics
1.2K views

body is launched 4 All of these A planet of mass m revolved around the...

Geometry
1.2K views

Find the value that makes the ratios equal 90 OA 10 OB 27 OC 9...

Geometry
1.2K views

A task force of 5 members is to be chosen from 6 seniors and 4...

Basic Math
1.2K views

reference you to a city or by finding square where etter and mber on the...

Algebra
1.2K views

Aneesha travels at a rate of 50 miles per hour. Morris is traveling 3 feet...

Accounting
1.2K views

Which filing status is least progressive? A. Single B. Married Filing Separately C. Head of...