The Double-Declining-Balance Method Ignores the Residual Value Until the Depreciation

question 183

True/False

The double-declining-balance method ignores the residual value until the depreciation expense takes the book value below the residual value.

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Definitions:

Articles of Confederation

The first constitution of the United States, ratified in 1781, which created a loose confederation of sovereign states and a weak central government.

Continental Congress

The convention of delegates from the Thirteen Colonies that became the governing body of the United States during the American Revolution.

Constitutional Authority

The powers and rights granted to branches of government or officials by a constitution, forming the legal basis for their actions and decisions.

Continental Army

The army raised by the American colonies during the American Revolutionary War with George Washington as its commanding general.