A _____ Is Any Equipment Purchased and Used for More

question 11

Short Answer

A _____ is any equipment purchased and used for more than one year and depreciated over its useful life.

---

Definitions:

Contract Interest Rate

The interest rate specified within a financial contract, such as a loan or bond agreement, that determines the interest payments.

Paid-In Capital

Capital contributed to a corporation by the stockholders and others.

Common Stock

A form of corporate equity ownership, a type of security representing ownership in a corporation and a claim on part of the company’s profits.

Retained Earnings

Accumulated net income of a company that has not been distributed to shareholders as dividends.