The only depreciation models needed for corporate tax calculations in Canada are
A)straight-line and declining balance.
B)declining balance and double-declining balance.
C)straight-line and Sum-of-year's digits.
D)straight-line and units-of-production.
E)declining-balance and 150%-declining-balance.

Question

Quizplus · Accepted Answer

In Canada, the most commonly used depreciation models for corporate tax calculations are the straight-line and declining balance methods. The straight-line method spreads the cost evenly over the useful life of an asset, while the declining balance method accelerates depreciation, allowing for larger deductions in the early years of an asset's life.

The Only Depreciation Models Needed for Corporate Tax Calculations in Canada