​Match the Following Term with Its Definition

question 9

Multiple Choice

​Match the following term with its definition.
-​A supervised employment experience in a qualified health care facility as part of the educational curriculum;also known as an externship

• A)​externship
• B)​practicum
• C)​transcript

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Definitions:

Salvage Value

The estimated residual value of an asset at the end of its useful life.

Useful Life

The estimated time period that an asset is expected to be used before it is fully depreciated or deemed no longer useful.

Depreciation Expense

An accounting method of allocating the cost of a tangible asset over its useful life to reflect its decrease in value over time.

GAAP

Stands for Generally Accepted Accounting Principles, which are a common set of accounting standards and procedures that companies must follow when they compile their financial statements.