One difference between the double-declining-balance method and the straight-line method is that the double-declining-balance method:
A. Uses book value instead of depreciable cost in the calculation of depreciation
B. Cannot be used for tax purposes.
C. Does not consider the useful life of the asset in the calculation of depreciation.
D. Takes book value below residual value

When a company determines that estimated future cash flows from an asset are less than the book value of the asset, it records:
A. An asset impairment gain, if the value of the cash flows exceeds the asset's book value
B. an asset impairment loss, if the value of the cash flows exceeds the asset's book value.
C. an asset impairment gain, if the asset's book value exceeds the value of the cash flows.
D. an asset impairment loss, if the asset's book value exceeds the value of the cash flows

What do you think

What do you think