MCQ Practice

Which of the following is true with respect to providing depreciation under diminishing balance method?

Subject: AccountingTopic: Accounting
A

The amount of depreciation keeps increasing every year while the rate of depreciation keeps decreasing

B

The amount of depreciation and the rate of depreciation decrease every year

C

The amount of depreciation decreases while the rate of depreciation remains the same

D

The amount of depreciation and the rate of depreciation increases every yearState & Local Government

Correct Answer: C