Depreciation Occurs When

question 98

Multiple Choice

Depreciation occurs when

• A)machines wear out.
• B)factories get old.
• C)capital is abandoned.
• D)production lines are shut down.
• E)capital is sold.

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Definitions:

Colonial Assemblies

Elected bodies in the American colonies that represented colonists and had the authority to legislate and make decisions on local matters.

Acts of Parliament

Legislation passed by the Parliament, which forms the statutory laws of the country.

Stamp Act

A 1765 British law imposed on the American colonies requiring them to pay a tax on printed materials, which led to widespread protest.

Revenue

Revenue is the total amount of income generated by the sale of goods or services related to a company's primary operations.