Above the Nose Is Termed ____________________

question 65

Short Answer

Above the nose is termed ____________________.

---

Definitions:

Total Assets

The combined value of all owned resources and property by an entity that has economic value.

Salvage Value

An asset’s projected terminal value after the end of its usefulness.

Straight-line Method

A method of depreciation that allocates an equal amount of the asset's cost to each year of its useful life.

Units-of-activity Method

A depreciation method that allocates an asset's cost based on its usage, activities, or units produced, rather than the passage of time.