Match the Terms with the Definitions

question 31

Multiple Choice

Match the terms with the definitions.
-Depreciation methods that provide for a higher depreciation charge in the first year of an asset's life and gradually decreasing charges in subsequent years.

• 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:

Prototype

An early sample, model, or release of a product built to test a concept or process and to be used as a thing to be replicated or learned from.

1 Year

A period of twelve consecutive months used as a basis for calculating time-related metrics.

Independent Contractor

An individual who provides goods or services to another entity under terms specified in a contract or within a verbal agreement, not considered an employee.

Autonomy

The right or condition of self-government, or the ability of an individual or organization to make their own decisions and control their own affairs.