Match the Terms with the Definitions

question 90

Multiple Choice

Match the terms with the definitions.
-The estimated market value of an asset on its expected disposal date.

• A)Accelerated Cost Recovery System (ACRS)
• B)accelerated depreciation methods
• C)amortization
• D)trademark
• E)cash equivalent price
• F)long-term assets
• G)copyright
• H)cost
• I)patent
• J)depreciable cost (base)
• K)depreciation
• L)physical depreciation
• M)tangible assets
• N)sum-of-the-years'-digits method
• O)salvage value
• P)property, plant, and equipment

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Definitions:

Expense

Costs incurred by a business in the process of earning revenue, such as salaries, rent, and utilities.

Capital Account

An account on a nation's balance of payments that records the investment funds coming in and going out of the country.

Statement of Owner's Equity

A financial document that reports the changes in the equity of a company over a specific period, including withdrawals, investments, and net income.

Trial Balance

A bookkeeping worksheet wherein the balances of all ledgers are compiled into debit and credit columns to ensure that total debits equal total credits.