Ernesto Knows More Than 100 Words, Which He Uses One

question 451

Multiple Choice

Ernesto knows more than 100 words, which he uses one word at a time. He is probably __________ old.

• A)six to eight weeks
• B)seven months
• C)one year
• D)18 months to two years

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Definitions:

Accounting Period

The specific period of time covered by financial statements, typically a year or a quarter, for which all financial transactions are recorded and reported.

Straight-line

A method of depreciation that allocates an equal expense rate to each year of an asset’s useful life.

Accelerated Methods

Depreciation methods that allocate more depreciation expense to the earlier years of an asset's life.

Depreciation

Strategically spreading out the cost of a tangible asset throughout its period of usefulness.