Another name for the straight-line depreciation method is the ____________ method.

The straight-line depreciation method is often referred to as the age/life method because it calculates depreciation by taking the cost of an asset, subtracting its salvage value, and dividing this amount by the asset's useful life. This method evenly distributes the cost of the asset over its useful life, which aligns with the concept of assessing the asset’s economic age and remaining life. It reflects an understanding of how long the asset will be beneficial to the owner, providing a straightforward approach to accounting for the reduction in value over time.

In contrast, other methods mentioned, such as cost recovery and accelerated, offer different approaches to calculating depreciation. Cost recovery typically refers to various methods of reimbursing costs over time, while accelerated depreciation allows for greater depreciation in earlier years, reflecting a more aggressive consumption of the asset's value. Replacement cost refers to the cost to replace an asset with a new one of equivalent utility, which is separate from the method of recognizing depreciation.