Match the Following Terms with Their Definitions

question 36

Multiple Choice

Match the following terms with their definitions.
-Useful life

• A)Residual value not deducted in calculation
• B)Even amount of depreciation expense each year
• C)Depreciation based on usage
• D)Depreciation that has been built up
• E)An allocation of the cost of an asset
• F)Estimated life of asset
• G)Cost minus accumulated depreciation
• H)1 divided by number of years of expected life
• I)A table showing depreciation allocation
• J)Estimated value after AFIC depreciation taken
• K)Result of Tax Reform Act of 1986
• L)Salvage value

Evaluate the effect of incremental increases in periodic contributions on the future value of investments.

Calculate the present value of indexed annuities with payments that grow at a specified rate.

Determine the interest rate required to meet specific financial goals in perpetuity.

Understand and analyze the basic accounting equation and its components (assets, liabilities, owner's equity).

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Definitions:

Inferior

Referring to something of lower quality or rank.

Erik Erikson

A developmental psychologist famous for his theory on the psychosocial development of human beings.

Resilience

The capacity to adapt well to significant adversity and to overcome serious stress.

Dynamic

Characterized by constant change, activity, or progress, often used to describe processes or systems that are not static.