The Sum-Of-The-Years' Digits and Declining-Balance Methods of Calculating Depreciation Are

question 71

Short Answer

The sum-of-the-years' digits and declining-balance methods of calculating depreciation are called ____________________ depreciation methods.

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Definitions:

Public Company

A company whose shares are traded freely on a stock exchange, making its financial records and activity reports publicly available.

Financial Statements

Financial statements are formal records of the financial activities and position of a business, person, or other entity, including the balance sheet, income statement, and statement of cash flows.

Canada Revenue Agency

The federal agency responsible for the administration of tax laws for the Government of Canada and for most provinces and territories.

Tax Laws

Legislation that determines how much individuals and businesses must pay the government from their income and financial transactions.