Question: 00 QUESTION 21 For assets acquired during the year e, not on January 1), the Declining Balance method requires that depreciation is recorded for only

00 QUESTION 21 For assets acquired during the year e, not on January 1), the Declining Balance method requires that depreciation is recorded for only a portion of the first year. To do this the first year depreciation amount is prorated to reflect the amount of time that the asset was actually owned by the company.e. number of days or number of months True False QUESTION 22

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