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Default method used to gradually reduce the carrying amount of a fixed asset over its useful life

1. Define straight line method depreciation. The default method used to gradually reduce the carrying amount of a fixed asset over its useful life


2. What is the sum-of-year's digit method? What's unique thing about this method? The sum of the years' digits method is used to accelerate the recognition of depreciation. Doing so means that most of the depreciation associated with an asset is recognized in the first few years of its useful life.

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