The Private Sector Comprises: (Please Select All That Apply

question 18

Multiple Choice

The private sector comprises: (Please select all that apply.)

• A) Households
• B) Privately owned non-profit organizations
• C) Private corporations
• D) Universities

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Definitions:

Depreciation Expense

Depreciation expense is the allocated portion of the cost of a tangible asset that is expensed over its useful life, reflecting wear and tear, obsolescence, or loss of value.

Double-Declining-Balance

A method of accelerated depreciation which doubles the normal depreciation rate, reducing the value of an asset more quickly in its early years.

Accelerated Depreciation

A depreciation method that allows faster write-off of assets in the initial years of asset life.

Accumulated Depreciation

The total depreciation for a fixed asset that has been charged to expense since the asset was acquired and put into use.