What are the differences between the three methods of asset depreciation discussed in the workshop?

What will be an ideal response?

The SLN function calculates the depreciation of an asset for a specified period using the fixed-declining balance method. This means that the amount of money that is depreciated is the same for each year of the life of the asset.The DB function calculates the depreciation of an asset for a specified period using the fixed-declining balance method. The difference between the DB function and SLN function is that when you use the DB function, you can specify the period and month that the asset was placed into service.The DDB function calculates the depreciation of an asset for a specified period using the double-declining balance method. With the straight-line depreciation method, the useful life of the asset is divided into the total cost to arrive at an equal amount per year. The DDB function permits twice the straight-line annual percentage rate to be applied each year.