The National School Lunch Program Was Established In

question 14

Multiple Choice

The National School Lunch Program was established in:

• A) 1945.
• B) 1946.
• C) 1954.
• D) 1958.

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Definitions:

Depreciation Expense

An accounting method for allocating the cost of a tangible asset over its useful life, representing the asset's consumption, wear and tear, or obsolescence.

Straight-Line Method

The straight-line method is a depreciation technique that allocates an equal amount of depreciation expense for a fixed asset to each year of its useful life.

Salvage Value

The estimated market valuation of an asset following the end of its useful duration.

Depreciation Expense

The charge to the income statement for a particular period that represents the allocation of the cost of tangible assets over their useful lives.