Question Details

The declining-balance method of amortization is called an accelerated amortization method because 



TRUE OR FALSE:	
1.	The declining-balance method of amortization is called an accelerated amortization method because it amortizes an asset in a shorter period of time than the asset's useful life.

	2.	If you use the straight-line rate on a declining-balance basis, the asset- net worth will never reach its expected residual value. 

	3.	Under the doubledeclining-balance method, the amortization rate used each year remains constant.

	4.	The Canada Customs and Revenue Agency does not require the taxpayer to use the same amortization method on the tax return that is used in preparing financial statements.

	5.	A change in the estimated useful life of a capital asset may cause a change in the amount of amortization recognized in the current and future periods, but not to prior periods.



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