By the End of 2009,loan Losses Were ________ at the End

question 39

Multiple Choice

By the end of 2009,loan losses were ________ at the end of 2007.

• A) equal to those
• B) two times less than
• C) four times greater than
• D) twenty-five times greater than

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Definitions:

Accumulated Depreciation

The cumulative total of depreciation costs apportioned to a tangible asset since its initial operation.

Depreciation Expense

The allocated portion of an asset's cost expensed each year over its useful life to account for its wear and tear, obsolescence, or decline in value.

End-Of-Period Spreadsheet

A tool used in accounting to compile all balances and adjustments of an accounting period before preparing the final financial statements.

Retained Earnings

The portion of net income that is held by a company and not distributed to shareholders as dividends, used for investment or debt repayment.