In Which of the Following Depreciation Methods Is Annual Depreciation

question 136

Multiple Choice

In which of the following depreciation methods is annual depreciation calculated as the difference between the asset's historical cost and its residual value,divided by the asset's useful life in years?

• A) double-declining-balance
• B) straight-line
• C) units-of-production
• D) depletion

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Definitions:

Vouchers Payable

Liabilities or accounts payable that are supported by a voucher evidencing the goods or services received.

Unpaid Vouchers

Records of amounts owed for goods or services received but not yet paid for.

Voucher

A document that serves as evidence for a transaction and authorizes a payment.

Purchase Requisition

An internal document used by an organization to request permission for a purchase before initiating the actual procurement process.