The double-declining balance method is an accelerated depreciation method that is charged more quickly as an expense if compared to straight line depreciation, which uses the same depreciation amount each year over the life of the asset. This statement is true.
The double-declining balance method is one of the accelerated methods of calculating depreciation on a company's income statement. It is calculated by multiplying the book value of an asset by a straight line depreciation rate. Similarly the double declining balance method depreciates an asset twice as fast as the standard declining balance method. This method uses twice the normal depreciation rate instead.
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