Examlex
Which of the following statements is false?
Depreciation Method
A systematic approach used to allocate the cost of an asset over its useful life, reflecting its consumption, wear and tear, or obsolescence.
Economic Benefits
The gains derived from financial and non-financial activities, including income, improved well-being, or increased value.
Asset's Fair Value
The estimated price at which an asset could be bought or sold in a current transaction between willing parties, other than in a liquidation sale.
Double Diminishing-Balance
A method of accelerated depreciation which doubles the rate at which an asset's book value depreciates, leading to larger deductions in the early years of an asset's life.
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