QUESTION $4$

Which of the following methods of depreciation assumes an equal expense is recognized each year of an asset's useful life?

Straight$-$line depreciation

Double$-$declining balance depreciation

Units$-$of$-$production depreciation

Sum$-$of$-$years'$-$digits depreciation

QUESTION $5$

The accumulated depreciation of a fixed asset represents:

The total cost of the asset

The annual depreciation expense recognized on the asset

The remaining book value of the asset

The total depreciation expense recognized on the asset over its useful life