Short Writing Summarizing a Larger Work

question 14

Multiple Choice

Short writing summarizing a larger work.

• A) abstract
• B) memo
• C) document
• D) appendix

---

Definitions:

Accumulated Depreciation

The total amount of depreciation expense recorded for an asset over its useful life, reducing its book value on the balance sheet.

Fully Depreciated

Fully Depreciated refers to an asset that has reached the end of its useful life, and its book value is equal to its salvage value in the financial records.

Double Diminishing-Balance

A method of accelerated depreciation which charges depreciation at a higher rate in the early years of an asset's life.

Accumulated Depreciation

The total amount of an asset's cost that has been allocated as depreciation expense over its useful life.