Depreciation methods that provide for a higher depreciation charge in the first year of an asset's life and gradually decreasing charges in subsequent years are called accelerated depreciation methods.

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The statement is correct. Accelerated depreciation methods include methods like double-declining balance or sum-of-years' digits, which result in higher depreciation expenses in the early years of an asset's life and lower expenses in later years. This is in contrast to straight-line depreciation, which results in equal depreciation expenses every year.

Depreciation Methods That Provide for a Higher Depreciation Charge in the First