Match the Terms with the Definitions

question 1

Multiple Choice

Match the terms with the definitions.
-If one asset is traded in on the purchase of another similar asset, an allowance may be granted.

• A)Accelerated Cost Recovery System (ACRS)
• B)intangible assets
• C)Modified Accelerated Cost Recovery System (MACRS)
• D)book value
• E)cash equivalent price
• F)conservatism
• G)straight-line method
• H)tangible assets
• I)depletion
• J)depreciable cost (base)
• K)trade-in allowance (trade value)
• L)double-declining-balance method
• M)functional depreciation
• N)units-of-production method

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Definitions:

Federal Prison Inmate

An individual who has been convicted of a federal crime and is serving their sentence in a federal prison.

Business License

An official permission or permit granted by a governmental entity that allows an individual or company to operate a business within a specific jurisdiction.

Online Method

An approach or technique utilized over the internet, enabling tasks such as research, communication, and transactions to be executed electronically.

Library Catalog

A database or listing of all the books, materials, and resources available in a library for research and borrowing.