Match the Terms with the Definitions

question 18

Multiple Choice

Match the terms with the definitions.
-A principle that requires assets to be recorded at their actual cost.

• A)Adjusted Trial Balance columns
• B)Adjusting entries
• C)Balance Sheet columns
• D)book value
• E)contra-asset
• F)depreciable cost
• G)depreciation
• H)fiscal year
• I)historical cost principle
• J)Income Statement columns
• K)market value
• L)matching principle
• M)plant assets
• N)salvage value
• O)straight-line method
• P)undepreciated cost
• Q)useful life
• R)work sheet

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Definitions:

Marginal Physical Product

The addition to total output due to the employment of one more unit of a factor, other factors held constant.

Marginal Output

The additional quantity of output that is produced as a result of using one more unit of a particular input, assuming all other factors of production remain constant.

Marginal Physical Product

The change in output resulting from employing one more unit of a particular input, all else being constant.

Productivity

The measure of the efficiency of production, often evaluated as the ratio of output to inputs in the production process.