Fill in the Blank

question 115

Multiple Choice

Fill in the blank. The __________ of an event A is the event that A does not occur.

• A) Venn diagram
• B) complement
• C) intersection
• D) union

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Definitions:

Salvage Value

Salvage value is the estimated resale value of an asset at the end of its useful life.

Useful Life

The estimated period over which an asset is expected to be used before it needs to be replaced or has significantly depreciated.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since its acquisition, reducing its book value on the balance sheet.

Journal Entry

A record of a transaction in a business's accounts, noting the accounts affected and the amounts.