Match the descriptions with their terms:
-An accelerated depreciation method used for financial statement purposes.
A) Plant assets
B) Depreciation
C) Carrying amount
D) Residual value
E) Straight-line method
F) Units-of-production method
G) Diminishing balance method
H) Amortisation
I) Revenue expenditures
J) Capital expenditures

Question

Quizplus · Accepted Answer

The diminishing balance method is an accelerated depreciation method used for financial statement purposes, where the book value of an asset is reduced at a faster rate in the initial years of its life.

Match the Descriptions with Their Terms