Ceteris Paribus Is the Latin Expression Meaning

question 53

Multiple Choice

Ceteris paribus is the Latin expression meaning

• A) other variables are held fixed.
• B) let buyer beware.
• C) think at the margin.
• D) for every action there is an equal and opposite reaction.

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Definitions:

Amortization Expense

The process of gradually writing off the initial cost of an intangible asset over its useful life.

Useful Life

Useful life is the estimated duration of time that an asset is expected to be usable for the purpose it was acquired, often influencing depreciation calculations.

Accumulated Depletion

The total amount of natural resources cost that has been allocated as an expense due to the physical removal or consumption of the natural resource.

Contra-Asset Account

An account that is used to reduce the value of a related asset, e.g., allowance for doubtful accounts reduces accounts receivable.