Which of the following statements is true? The straight-line method of depreciation allocates a decreasing amount of depreciation expense each year. Straight-line depreciation is the least used method for financial reporting purposes. Fixed assets are reported at historical cost less accumulated depreciation on the balance sheet. The total amount of depreciation over the asset's life is larger when using an accelerated method of depreciation.
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Home » Business » Which of the following statements is true? The straight-line method of depreciation allocates a decreasing amount of depreciation expense each year. Straight-line depreciation is the least used method for financial reporting purposes.