The straight-line method is one of the most widely used methods of computing depreciation for financial statement purposes.

Question

Quizplus · Accepted Answer

This statement is true. The straight-line method is a commonly used method for calculating depreciation for financial reporting purposes. It involves dividing the cost of an asset by its estimated useful life to determine the amount of depreciation to be charged each year.

The Straight-Line Method Is One of the Most Widely Used