Which of the following statements is correct when the straight-line method is used to compute depreciation?
A)The carrying value of an asset is a constant amount during the asset's useful life.
B)Accumulated depreciation is a constant amount during the asset's estimated useful life.
C)Depreciation Expense is a constant amount each year.
D)The book value of an asset is an increasing amount during the asset's useful life.

Question

Quizplus · Accepted Answer

The straight-line method of depreciation provides a constant amount of Depreciation Expense each period.As a result,the carrying value or book value decreases by the same amount each period.

Which of the Following Statements Is Correct When the Straight-Line