Indicate Whether Each of the Following Statements Is True or False

Short Answer

Indicate whether each of the following statements is true or false.
_____ a)Straight-line depreciation is the most widely used method in the U.S.
_____ b)An accelerated depreciation method provides a lower depreciation charge in the early years of an asset's life cycle than does the straight-line method.
_____ c)The units-of-production depreciation method allocates the cost of a plant asset in proportion to the asset's usage.
_____ d)Total depreciation expense recognized over the asset's life is not affected by the choice of depreciation methods.
_____ e)The entry to record depreciation affects the income statement and the statement of cash flows but not the balance sheet or statement of changes in stockholders' equity.