What is an alternative name for the Reducing Balance method of depreciation?

The term "Reducing Balance method" is indeed commonly referred to as the "Diminishing balance method." This nomenclature emphasizes the way the method operates, where the depreciation expense decreases each year as it is calculated based on the remaining book value of the asset rather than its original cost. This method is particularly useful for assets that lose value more quickly in the earlier years of their life.

In using this method, a fixed percentage is applied to the book value at the beginning of each period, which results in larger depreciation expenses in the earlier years and smaller expenses as the asset ages. This reflects the economic reality that many assets tend to lose value more rapidly initially.

The other options describe different methods of calculation or approaches to depreciation, which do not align with the concept of reducing or diminishing the balance. The Straight-line method distributes the cost of an asset evenly over its useful life, while the Units-of-use method allocates depreciation based on the asset's usage, and Accelerated depreciation refers to a category that may include reducing balance but is more general rather than a specific name for the method itself.