Short Division Is Rarely Done When the Divisor Is One

question 18

True/False

Short division is rarely done when the divisor is one digit.

---

Definitions:

Accumulated Depreciation

The total amount of a tangible asset's cost that has been allocated to depreciation expense since the asset was put into use.

Fees Earned

Revenue earned from providing services, as opposed to selling goods.

Income Summary

An account used in the closing process that summarizes the revenues and expenses of an accounting period.

Capital

Financial assets or the financial value of assets, such as cash and goods, working capital used in a business by a person, company, or organization.