Budgeting Refers to the Regular and Systematic,personal Commitment to Setting

question 51

True/False

Budgeting refers to the regular and systematic,personal commitment to setting aside enough money from each paycheck to pay the minimum payment on credit cards.

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Definitions:

Double-Declining-Balance

A method of accelerated depreciation which doubles the straight-line depreciation rate, resulting in a faster depreciation of assets in the early years of their life.

Depreciation Expense

The organized allocation of a tangible asset's expenditure over its life of usefulness.

Straight-Line Method

A method of depreciation that allocates an equal amount of the asset's cost to each accounting period over its useful life.

Depreciation Expense

Apportioning the cost of a concrete asset over its duration of use.