Which of the Following Is NOT a Time-Based Depreciation Method

question 30

Multiple Choice

Which of the following is NOT a time-based depreciation method?

• A) straight-line
• B) units of production
• C) double-declining balance
• D) any diminishing balance method

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Definitions:

Physical Existence

The actual, tangible presence of an asset, as opposed to intangible assets or rights.

External Audit

An independent examination of financial records and statements, conducted by an outside firm, to ensure accuracy and compliance with accounting standards.

Financial Statements

Official documentation detailing the monetary transactions and financial standing of a company, person, or different organization.

Credibility

The quality of being trusted and believed in, important in financial reporting and accounting practices.