Listed Below Are Five Terms Followed by a List of Phrases

question 65

Multiple Choice

Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.
-Repairs and maintenance

• A)Allocation of cost for plant and equipment.
• B)Is a change in accounting estimate.
• C)Results from subsequent year correction of a material error.
• D)Expenditures made to maintain a given level of benefits from an asset.
• E)Generate declining amounts of depreciation over time.

---

Definitions:

Combine

The process of adding or merging various elements or mathematical expressions together.

Simplify

The process of altering an expression or equation to make it easier to work with, often by combining like terms or applying mathematical operations.

Multiply

The mathematical operation of scaling one number by another, representing repeated addition.

Simplify

The process of making an algebraic expression or equation easier to understand by reducing it to its most basic form.