​Match the Term to Its Definition

question 9

Multiple Choice

​Match the term to its definition.
-The AAMA ​requires members to "seek to continually improve knowledge and skills."

• A)​personal ethics
• B)​professional ethics

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Definitions:

Ordinary Maintenance

Routine maintenance and repairs that are performed to keep equipment in its normal operating condition.

Long-Lived Assets

Assets that provide economic benefits to a business for more than one fiscal year, such as buildings, machinery, and equipment.

Architect

A professional who designs buildings and in many cases also supervises their construction.

Accumulated Depreciation

This is the cumulative depreciation of an asset up to a single point in its life, reflecting how much of the asset's value has been used up over time.