Technology Is Defined as

question 239

Multiple Choice

Technology is defined as

• A)the process of developing and revising models.
• B)new innovations and creations.
• C)the processes used to produce goods and services.
• D)the process of recycling products.

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Definitions:

Straight-Line Method

A method of calculating the depreciation of an asset, which spreads the cost evenly over its useful life.

Depreciation Expense

The portion of the cost of a fixed asset that is recognized as an expense in the income statement over its useful life.

Revalued Upward

Revalued upward is a term used in accounting to indicate an increase in the book value of an asset to reflect its current market value.

Subsequent Depreciation

The allocation of an asset's cost over its useful life, considering any adjustments made following the asset's initial measurement and recognition.