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Identify each of the following items as either (a) cash or (b) cash equivalent._____ 1. Coins _____ 2. Petty cash _____ 3. Three-month certificate of deposit _____ 4. Currency _____ 5. Certified cheque _____ 6. Cashier's cheque _____ 7. Loose change in a coffee tin _____ 8. Money orders
Amortization
The process of spreading out a loan or intangible asset cost over a specific period of time for accounting and taxation purposes.
Generally Accepted Accounting Principles
A collection of commonly-followed accounting rules and standards for financial reporting.
Straight-Line Method
A way of calculating equal depreciation expenses for an asset over its useful life.
Total Interest Expense
The sum of all interest payments made on debts over a specified period.
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