Accelerated depreciation methods like the double-declining method (or declining balance method) produce greater depreciation expense in the earlier years of an asset's life than the depreciation expense calculated using the straight-line method.

Group of answer choices

True

False

Question 2

A company purchased a long-term plant asset for $60,000. The asset has an estimated salvage value of $4,000, and an estimated useful life of 7 years. The annual depreciation expense using the straight-line method is $4,000 per year.

Group of answer choices

True

False