1a)

The declining balance method depreciates:

Question 1 options:

	an asset more slowly than the straight-line method in the early years of an asset's life
	an asset more quickly than the straight-line method in the early years of an asset's life
	assets at the same or a similar rate as the straight-line method

1b) (1 point)

CCA (Capital Cost Allowance Rate) refers to the:

Question 2 options:

	Rate that can be used for straight-line depreciation calculations based on the class of the asset
	Rate that is used for tax purposes when depreciating an asset based on the class of asset and using the declining balance method
	Maximum amount that can be depreciated
	Minimum amount that can be depreciated

1c) (1 point)

When do you stop depreciating an asset using the declining balance method?

Question 3 options:

	When the asset value hits zero
	When it has reached its useful life
	When you no longer use the asset as much
	When you sell the asset and realize either a gain or loss on disposal

1d) (1 point)

The CCA rate is always applied to the Netbook Value of an asset, in order to calculate the depreciation for that year. The Netbook value is:

Question 4 options:

	The historical cost of the asset
	The historical cost of the asset, less the accumulated depreciation
	The market value of the asset